Hyderabad surges ahead of Mumbai in top 10 fastest-developing cities globally

The previous decade in India has seen a massive relocation of rural population to urban areas seeking employment opportunities. With more people shifting their bases, the major cities are witnessing a burgeoning demand for housing which is also a key factor for growth of the real estate market. This is also contributing to the economic growth of the cities.

Recently, Savills Growth Hub, an international property consultant, released the fastest-developing cities rankings. Hyderabad is placed at number 4 position in the list of top 10 fastest-developing major cities around the globe by 2033. The list is based on the cities’ economy, population and wealth. Bengaluru has topped the list while Ho Chi Minh City, Vietnam is ranked second.

Approximately, 35 percent of the population of India is living in urban areas. The rapid urbanization and influx of migrants from rural areas have helped five of India’s cities secure spots among the top 15 global growth hubs.