NRIs prefer Hyderabad to buy property

Not just buyers from other cities and States, even many NRIs were buying property in Hyderabad considering different aspects, including infrastructure, cosmopolitan culture, law and order and others.

Many NRIs, who are planning to settle in India, were buying properties in Hyderabad. This trend of investing in Hyderabad was mostly by NRIs from Dubai, Singapore and Hong Kong and they preferred to invest in ventures around Shamshabad, Patancheru, Gandimaisamma and other areas, DEV Constructions Managing Director Sanjay Kumar Bansal said.

In tune with NRIs, many employees and investors from different cities are buying properties in Hyderabad.

With both husband and wife working and staying away from native places, many IT employees from different cities were buying flats in the city, considering quality education, transportation and other factors. Similarly, businessmen and other community people from Bihar,



Ahmedabad and other places were also buying properties here, said CREDAI Hyderabad members at a press conference here on Thursday.

This practice of employees and businessmen buying flats and other properties in Hyderabad was registering a growth of three to four percent annually, they said.

Ruling out slowdown in real estate market in the city, newly elected CREDAI Hyderabad president V Rajashekhar Reddy said according to a latest report, Hyderabad had registered 260 per cent growth in luxury housing segment in the last nine months. The city also recorded the highest new office completion and absorption in the country with 2.9 million square feet of office space transacted in third quarter of 2023, he said.

“Like all these years, we expect the Telangana government to continue its support to CREDAI in the next term as well and help us further boost the brand image of Hyderabad” Rajashekhar Reddy said.