The real estate business in Greater Hyderabad is booming, with a rise in registrations of plots and buildings, as well as permits for construction projects. This growth has been particularly noticeable since the new government took office, with an increase in revenue from document registrations and building permits. Despite a temporary freeze on financial transactions during the election period, the real estate sector is showing positive signs of growth compared to the previous year.
The city’s landscape is set to undergo significant changes in the near future, thanks to projects like the Musi River Front Development Project, the expansion of the Metro Rail, and the construction of elevated corridors connecting national highways from Secunderabad. Additionally, plans to extend the scope of HMDA up to the Regional Ring Road and focus on the construction of the RRR are creating a favorable environment for the real estate sector.
Officials have reported a substantial increase in income from registrations under GHMC and HMDA since the new government came into power. From December 2023 to June 2024, Rs 4670.52 crore was generated through plot and building registrations, compared to Rs 4429.23 crore in the previous seven months. This represents a significant growth in income and indicates the expanding real estate market in Greater Hyderabad.
In the last seven months, there were 2,18,160 registrations, a 12.5% increase from the same period last year. Additionally, 54,111 flats were registered during this time, showing a 7% increase from the previous year. Building permits granted under GHMC and HMDA also saw an increase, with 18,077 permits issued compared to 17,911 permits in the previous year. Building construction permits approved under GHMC in seven months were 7,809, marking a 13.17% increase from the previous period.
