Hyderabad to see an addition of 35-38mn sqft business parks, 1.3L residential units

Additional 35-38 M sft of business parks and 1.3L residential units to Hyd.

A recent report indicates that Hyderabad is poised to add approximately 35-38 million square feet of premium business parks within the next two to three years. This growth is fuelled by a robust business environment in the state, drawing in global corporations to establish outsourcing centers, back offices, research and development (R&D) facilities, and regional headquarters in Hyderabad. 

Simultaneously, the city is projected to introduce over 130,000 residential units within this same timeframe. With the expansion of the technology sector and industrialization, residential development has primarily concentrated in the western part of the city. However, there's now a growing interest from mid-segment home buyers in the northern, eastern, and southern regions. 

During January-September, Hyderabad secured a top-three position in office space leasing, reaching 6.6 million square feet, marking a 35 percent year-on-year increase. Sectors like life sciences, BFSI, and technology were pivotal in driving this absorption, according to real estate consultancy CBRE's report titled ‘From now to next: Tracing Hyderabad’s real estate dynamics.’ 

While a gradual return to the office environment is expected to boost leasing momentum, concerns about global headwinds remain. The city's established infrastructure will continue to attract occupiers, especially along the IT corridor, as they adapt to hybrid and distributed working, thereby sustaining the demand for flexible spaces. 

Anshuman Magazine's chairman and chief executive officer–India highlighted, "Hyderabad's thriving talent pool positions it as a prime investment destination. The evolving real estate landscape in both the office and residential sectors calls for strategic planning and agile decision-making."