Hyderabad witnessed strong office leasing during 2016, registering a 109 per cent year-on-year growth during the year, according to real estate consultancy CBRE South Asia.
During the January to March 2017 quarter, the city witnessed the uptake of more than 1.3 mllion sq ft.
Affordability This growth in office leasing activity, coupled with robust infrastructure development and competitive pricing, positions Hyderabad as one of the most affordable markets for buyers in the region, it observed. With the lower office rentals across top markets in southern India, corporates are increasingly looking at this market while planning their expansion strategies in the region. During the past few years, the continuous growth of the IT sector in the city has had a cascading effect on the housing market in corresponding hubs.
The residential activity in North Hyderabad is driven by presence of industries such as pharmaceutical, biotech, electronics, etc.Speaking at a property fair hosted here, Anshuman Magazine, Chairman, India and South East Asia, CBRE, in a statement said, “Political stability, coupled with the city’s inherent strengths, including its status as a prominent IT hub, a robust institutional base, supportive government policies and large infrastructure initiatives, are augmenting Hyderabad’s real estate development.”
“This, coupled with the city’s strong office leasing activity in the recent past, is having a positive impact on the residential market,” he said.