15-12-2023 05:03 PM | Source: PR Agency
Year-End Quote By Mr Prashant Rao, Poulomi Estates
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Below the year-end quotes By Mr Prashant Rao, Managing Director, Poulomi Estates, a Hyderabad-based real estate developer
The year 2023 marked a pinnacle in Hyderabad's real estate landscape, propelled by substantial investments that poured into the city. Government initiatives, including infrastructure projects and improved internal roads to alleviate traffic, played a pivotal role. Simultaneously, there was a heightened realization among people about the importance of spacious homes, leading to a resurgence in real estate investments.
This transformative year saw the emergence of a new housing segment in Hyderabad—the premium, ultra-rich, or large-format apartment category. Unlike previous years, where apartments were limited to 4000 square feet, 2023 witnessed the launch and enthusiastic acceptance of apartments ranging from 6000 to 15000 square feet, presenting an entirely novel dimension in the market.
Notably, the last seven months alone witnessed the leasing of close to 6.5 million sq ft of IT space in Hyderabad, indicating a thriving commercial real estate sector. With these transformative trends, 2024 is anticipated to surpass expectations, propelling Hyderabad to new heights. The city is poised for superior growth compared to other metros, driven by a surge in income and a burgeoning economy, which have contributed significantly to the increased demand for luxury housing, both nationally and prominently in Hyderabad.
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