photo credit: insouciance
A high-level report into the growth of an Indian city suggests it will go on attracting businesses and real estate buyers.
Hyderabad, rapidly developing as one of Asia’s leading technology centres, is drawing “highly paid job seekers”, analysts Exclusive Ventures said.
The company’s report on the city noted it was in for a busy future thanks to the arrival of firms like Microsoft, Oracle, IBM, Accenture and UBS.
The prospect of a metro rail system and a rail terminal similar to the existing Secunderabad Station, at Hitec City, are also expected to draw more businesses and residents.
Exclusive Ventures said:
“The new CBD has a concentration of the richest people in Hyderabad with average monthly take home pay of around Rs 30,000 against an average of under Rs 8000.”
Thanks to the IT-backed growth, Hyderabad is emerging as a strong property investment city.
Last week builder DLF unveiled details of the Park Estate project for the city, which will include high-rise apartments and townhouses.
A previous report by Ernst & Young listed the city as a future hot spot for affordable property builds, a sector which some analysts say will reinvigorate India’s real estate market.
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