Hyderabad has been famous for it’s strong history, rich culture, language, diverse tradition, exclusive pearls and lip smacking food. In the 1950’s Hyderabad took an expansion in BHEL, BEL, DRDO, HAL, and NMDC. Since the introduction of IT in India, numerous towns across the country have become home to rapidly expanding IT firms. Hyderabad is the newest addition to India’s IT cities.
The royal city joined the transformation effort in the 1990s, with the Chandra Babu Naidu government attempting to introduce changes in the city’s scientific and technological revolution.
As a result, Hyderabad has attracted software companies, Mindspace Business Parks process outsourcing (BPO) corporations, call centers, industries, financial services, entertainment, and other technology services. Hyderabad has attracted international brands like Google, Microsoft, Samsung, Motorola, oracle, yahoo, HP, Texas instruments, GE, QUALCOMM, Facebook, amazon.com and many other such brands.
The globally well-known brand, Amazon has chosen Hyderabad as the home for its largest warehouse. This warehouse is capable of storing approximately two million products. Another achievement for Hyderabad is set by Uber. It is setting up the state-of-the-art facilities in Hyderabad that is eventually supposed to be the largest international office with a whooping investment. To top it all a joint venture of Tata and Boeing established an aerospace facility in Hyderabad.
Hyderabad is seeing an increase in IT hubs.
With private investors, the government launched a project to create 1,100,000 sq. ft. (100,000 m2) of IT space and 450,000 sq. ft. (42,000 m2) of residential space. MEDHA was the project’s initial operating phase.
This area became the city’s primary IT hub, complete with sez it park and special economic zones. HITECH City (Information Technology Engineering Consultancy City) was founded in 1998 as a result of the Andhra Pradesh government’s liberal support for investment policies and infrastructure.
One of the city’s earliest township projects to assist spur private investment is called HITECH City. The infrastructural development and spread of IT companies in Hyderabad’s Madhapur, Gachibowli, Kondapur, Manikonda, and Nanakramguda sectors were boosted by aggressive marketing.
Big IT companies like Microsoft, Google, Facebook, Amazon, Wipro, Motorola, DELL, and others are housed in these IT hubs. Many well-known Fortune 500 corporations have their headquarters in these renowned commercial locations.
With a base of over 1300 IT enterprises, the city’s suburbs, such as Cyber Towers in Madhapur, became known as Cyberabad. Cyber Towers, Cyber Gateways, L and T Infocity, Hyderabad International Convention Centre, HITEX Exhibition Centre, MindSpace IT Park, Ascendas IT Park, Cyber Pearl, and a slew of other structures and IT parks have sprouted up throughout Hyderabad's major districts.
A broad number of large corporations and multinational corporations are housed in these IT areas. The fact that there is a shortage of office space in major IT hubs is causing growth to be diverted to burgeoning sub-urban areas such as Uppal, Shamirpet, Shamshabad, and Pocharam. These suburbs compete with Madhapur, Gachibowli, and Kondapur, which are all older IT hubs.
Increased Property Market Activity Real estate activity has increased in all of these IT locales. The government’s interest in infrastructure and human resources stimulates investment, assisting these places in becoming desirable destinations for occupiers and builders.
Hyderabad significantly has lower real estate cost and an excellent infrastructure when compared to other metropolitan cities like Mumbai, Bangalore, Delhi NCR, and Chennai. The firms are able to support a strong infrastructure in a cost effective way. The infrastructure development is focusing in all the areas of economy e it, roads, flyovers, cityscape, electricity supply 24/7 and also better water supply. The government has also focused on the development of the city limits by developing satellite townships in an excellent way. Another major infrastructure development in execution is the Hyderabad metro railway project. This will enhance the connectivity of the city in the west and south directions of Hyderabad city.
These activities, of course, are driving up real estate activity in the neighborhood, raising property values.