Hyderabad continues to make headlines for its rapid development in the real estate sector, particularly in the absorption of commercial spaces and the construction of luxurious residential apartments and villas. As a result, builders and developers from other cities are flocking to the state capital on study tours.
A team of 250 members from Maharashtra is expected to visit the city soon, following a visit by a delegation from the Youth Wing of the Maharashtra Builders Association last year.
Explaining the reasons behind this trend, G Rami Reddy, the National Secretary of CREDAI, highlighted the phenomenal growth of Hyderabad, especially over the past seven years. The city has witnessed rapid development in various fields such as pharma, industries, IT, life sciences, and others, which has had a positive impact on the real estate sector.
Hyderabad's skyline is now adorned with skyscrapers ranging from 30 to 50 floors, making it the city with the second-highest number of high-rise structures after Mumbai. Currently, Hyderabad is considered the most vibrant city in the country, offering a diverse range of properties including villas priced from Rs 3 crore to Rs 30 crore, and apartments ranging from Rs 5,000 per sqft to Rs 15,000 per sqft. No other city offers such a variety, according to Reddy.
Builders are coming to Hyderabad to learn about advanced technologies and construction practices. One such advancement is the use of complete aluminum formwork, a system for forming the cast-in-place concrete structure of a building. Additionally, the clubhouses in gated communities and the emphasis on landscaping in projects have attracted the attention of architects, builders, and contractors.
During these study tours, participants examine residential apartments, high-rise structures, and luxurious villas. They discuss various aspects, from foundation to finishing touches, as well as the implementation of advanced technologies. Market potential is also a topic of discussion.
Reddy emphasized the transparent approval process for building permissions in Hyderabad, which is not prevalent in many other major cities. He attributed this transparency to the absence of political corruption, which he considers the biggest differentiating factor.
Even in rural areas across Telangana, remarkable buildings are being constructed. Reddy personally noticed impressive structures in Chityala village, featuring elevations, glass facades, and buildings equipped with solar fencing. He believes that the affordability of the people in Telangana has increased significantly.
Not only builders from Maharashtra but also those from the Delhi NCR region and Kolkata are showing interest in visiting Hyderabad to study various aspects of the real estate sector, including commercial spaces, warehouses, and residential structures, according to V Rajashekhara Reddy, the Secretary of CREDAI Hyderabad.
Hyderabad's biggest advantage lies in its infrastructure. Many cities face numerous challenges due to a lack of infrastructure or poor planning, but Hyderabad has addressed these issues by constructing link roads, flyovers, and underpasses to ease traffic congestion. This factor is attracting many builders to consider Hyderabad for their projects.
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