Telangana’s Budget For 2023 Is All Toward Real Estate Development And Infrastructural Growth. Know The Key Points

About Telangana Real Estate Infrastructure

Hyderabad, the capital city of Telangana, has long been known for its rich cultural heritage and historical significance. However, in recent years, the city has undergone a remarkable transformation, particularly in its infrastructure development. The government of Telangana has taken several initiatives to improve the city’s infrastructure, making it one of the most modern and well-planned cities in India, which ultimately has made Hyderabad an attractive destination for real estate investments.

The city’s road network is a critical aspect of its infrastructure development. The government has invested significantly in the construction of new roads, flyovers, and bridges to alleviate traffic congestion and improve connectivity. The Outer Ring Road, which encircles the city, has substantially reduced travel time and enhanced commuting comfort. Additionally, the government has introduced a state-of-the-art metro rail system that has quickly become a popular mode of transportation in the city.

The resulting real estate growth in Hyderabad has been significant, with both residential and commercial property prices steadily increasing. The city’s real estate market is expected to continue to grow, driven by ongoing infrastructure development, a growing economy, and a young and highly skilled workforce.

Before diving into the recent allocation to infrastructural development in Hyderabad, let’s look at the growths and opportunities in Hyderabad real estate.

Hyderabad’s Recent Growth In Real Estate

Recent times have been very helpful for Hyderabad as it has become an IT hub and the development with Government support has been very prompt in terms of planning and executing the growth maps in Hyderabad. The city’s infrastructure development, including its transportation network, essential services, and airport connectivity, has been a significant driver of this growth. Let’s take a closer look at the recent growth in Hyderabad’s real estate market.

Residential Real Estate

Hyderabad’s residential real estate market has been growing at a steady pace, driven by the increasing demand for housing. The city’s improving infrastructure and essential services, coupled with its relatively affordable real estate prices compared to other major Indian cities, have made it an attractive location for homebuyers.

One of the key drivers of this growth has been the development of new residential projects in previously inaccessible areas. The Outer Ring Road, which encircles the city, has opened up previously undeveloped areas for construction, leading to the creation of new residential projects in these areas.

In addition, the city’s affordable real estate prices have also led to a surge in demand for affordable housing. This has resulted in the construction of several affordable housing projects in the city, providing an affordable housing option for the city’s low-income residents.

Commercial Real Estate

Hyderabad’s commercial real estate market has also been experiencing significant growth in recent years, driven by the city’s expanding economy and its growing reputation as a global IT hub. The city’s airport connectivity, coupled with its supportive government policies, has made it an attractive location for multinational corporations looking to set up their offices in India.

Several major multinational corporations, including Microsoft, Google, and Amazon, have already set up their offices in Hyderabad, leading to the development of numerous commercial office spaces in the city. This trend is expected to continue, with several more companies reportedly considering Hyderabad as a potential location for their offices.

Infrastructure Development

The government’s initiatives to improve the city’s infrastructure have also been a significant driver of real estate growth in Hyderabad. The construction of new roads, flyovers, and bridges, along with the expansion of the city’s metro rail system, has created new opportunities for real estate development in previously inaccessible areas.

The government’s efforts to ensure reliable access to essential services such as electricity, water, and sewage, have also created a favorable environment for real estate development in the city. As a result, several developers have started building new residential and commercial projects in these areas.

Hyderabad’s real estate market has been experiencing steady growth in recent years, driven by the city’s improving infrastructure, expanding economy, and growing reputation as a global IT hub. The city’s affordable real estate prices and improving infrastructure have made it an attractive location for both residential and commercial real estate investments. As the city continues to develop, its real estate market is expected to continue to grow and provide opportunities for investors and developers alike.

The Recent Budget Allocation Towards Real Estate

The Telangana government’s annual budget for 2023-24 focuses on developing better infrastructure and public welfare. Experts in the real estate sector anticipate that the budget will pave the way for growth in the housing sector in tier-2 and tier-3 cities of the state. With matching the expectations, the Govt. proposed a solid budget with specified provisions for IT and infrastructure development, among other things.

The Municipal Administration & Urban Development Department has been allocated Rs 11,372 crore, which will be used for infrastructure and traffic flow in Hyderabad. To address traffic congestion, the state government has undertaken several Strategic Road Development Plan (SRDP) projects like flyovers, underpasses, foot over-bridges, and road over-bridges.

The industries department has been allocated Rs 4,037 crore, which is expected to contribute towards creating a conducive business environment to attract investments. The state’s efforts to increase transparency and ease of getting permissions have resulted in an increase in investments.

The home department has been allocated Rs 9,599 crores, with a part of the allocation going towards the Mega City Policy Initiative and effective surveillance using CCTV cameras. The government of Telangana also has allocated Rs 1,500 crore to the Hyderabad Metro Rail Limited which was expected by experts. Furthermore, Rs 500 crore has been allocated towards connectivity to the Old City, and another Rs 500 crore for the proposed Airport Metro.

All these allocations in the budget are expected to lead to a surge in national and international investments, which will, in turn, lead to several jobs being created in the state. This is expected to translate to more demand for real estate, according to B Sunil Chandra Reddy, President, NAREDCO – Telangana Chapter. Urban infrastructure development is also expected to improve connectivity and lead to commercial cum social real estate development.

Despite the positive developments, the loan waiver scheme of Rs 6,385 crores may put some stress on the finances of the state. Overall, the budget’s emphasis on infrastructure development and public welfare is expected to have a positive impact on the state’s economy, including the real estate sector.

Our View

Hyderabad is on the ride of development and growth in infrastructure and IT, and we suggest strongly considering Hyderabad for your investment planning. You can?check our post?to know which are the best places to invest looking at the current growth and expansions.

Thinking of buying or selling a property in Hyderabad? Reach out to?www.bridl360.com?for hassle-free property investment, buying, or selling services.