Real Estate Sector in Greater Hyderabad Sees Growth Despite Election Freeze

Strategic Insights -

The real estate business in Greater Hyderabad is experiencing growth, as evidenced by the increasing number of registrations of plots and buildings, along with permits for buildings and layouts. Since the formation of the new government, the number of registrations and revenue from document registrations under HMDA have increased. The face of the city is set to change with various development projects, including the Musi River Front Development Project and the expansion of the Metro Rail. The government's focus on construction of the RRR has created a favorable environment for the real estate sector.

Key Takeaways:

  • The income from registrations under GHMC and HMDA has increased by Rs 241.29 crore since the new government assumed power, from December 2023 to June 2024, compared to the previous seven months.
  • The total number of registrations in the last seven months was 2,18,160, a 12.5 per cent increase compared to the same period last year.
  • About 54,111 flats have been registered so far this year, a seven per cent increase compared to the same period last year.
  • The number of building applications granted under GHMC and HMDA was 18,077 from December 7 to June 30, a 2.16 per cent increase compared to the previous seven months.
  • Building construction permits approved under the GHMC in seven months were 7,809, with a 13.17 per cent increase compared to the previous seven months.
  • The government's focus on construction of the RRR has created a favorable environment for the real estate sector.
  • The face of the city will change with the Musi River Front Development Project, expansion of the Metro Rail, and construction of two elevated corridors connecting the national highways from Secunderabad.

Statistics:

  • Income from registrations under GHMC and HMDA has increased Rs 241.29 crore since the new government assumed power.
  • Rs 4670.52 crore has been received through the registration of plots and buildings from December 2023 to June 2024.
  • Income from registrations was Rs 4429.23 crore from May 2023 to November 2023, a Rs 241.29 crore increase.
  • Total number of registrations in the last seven months was 2,18,160, a 12.5 per cent increase compared to the same period last year.
  • 54,111 flats have been registered so far this year, a seven per cent increase compared to the same period last year.
  • The number of building applications granted under GHMC and HMDA was 18,077 from December 7 to June 30, a 2.16 per cent increase compared to the previous seven months.
  • Building construction permits approved under the GHMC in seven months were 7,809, with a 13.17 per cent increase compared to the previous seven months.

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