Will Shamshabad be the next hot spot for real estate investment?
Hyderabad: Hyderabad Disaster Response and. Asset Protection Agency (HYDRAA) is the new buzzword among real estate agents. Even though HYDRAA continues to send shivers down the spine of several builders, the real estate market in the city limits refuses to slow down.
The housing sales growth trajectory touched 49 per cent in 2023. The real estate developers and investors are optimistic as the housing sales in Hyderabad registered a five-year high between Jan-July 2024 worth Rs. 58,481 crore. Residential properties worth Rs. 4,288 crore were sold in June this year. Similarly, office space leasing recorded a jump of 11 percent on top of last year’s average quarterly leasing activity.
Hyderabad emerges as a top destination for global capability centres (GCC). Several tier II US companies are setting up their shops in the city which is resulting in job creation and demand for housing.
As the Telangana state capital witnesses seamless growth, Shamshabad area including Mamidipally, Gagan Pahad, Shamshabad and Mamidipally are set for an explosive growth over a period of 2-3 years.
GMR Interchange Mall
GMR’s experiential retail is being developed on the lines of Simon Outlet malls in the United States. The mall will serve as a platform for several branded outlets to give an international retail experience to shoppers. Like every mall, the arena will also have 11 cinema screens including Inox multiplex and dining experience. The experiential mall will showcase European style with sufficient parking facility for visitors.
WTC and Interim AI city
It is reported that the Telangana government will lease a significant portion of World Trade Centre, Shamshabad and the space will be allocated for interim Artificial Intelligence (AI) city. The WTC is said to have a built-up space spread over 1 million square feet. Several emerging technologies firms will take the office space for lease at the WTC. According to reports, the first WTC tower is expected to be completed by 2026.
Airport Metro
As Hyderabad Metro is set to become a reality soon, the real estate agents expect that the metro services will give a big boost to the Mamidipally Gagan Pahad area. The real estate market may witness substantial growth in the housing segment as the metro service works progresses.
