Hyderabad to be megacity by 2030, property sales grown by 32 per cent

Hyderabad: Hyderabad is generating wealth, employment and driving the human process, and these three key factors are not only defining the city’s  characteristics but also preparing it to join the club of megacities those with population above 1 crore by 2030.

The United Nations sees Hyderabad as a strong hub for information technology and tourism. 

In the next 12 years, the city’s population is projected to grow to 12.3 crore, as it has the potential to generate jobs and has sufficient space for residential expansion.This is likely to attract migrants and cause a massive shift from the rural areas, say experts. While the geographical location of the city is a plus point, the megacity tag also brings along a mega responsibility in terms of governance and administration.

The city does feature in the list of top 10 best places in India to start a career or establish oneself. 

After Delhi and Bengaluru, Hyderabad has a good entrant job market with an attractive median salary.

“Known to many, the city has a strong IT base. It is home to offices of companies like Apple, Amazon, Google, Facebook and Microsoft. The median salary starts from Rs 4,89,505 per annum, the employment growth rate is between 10 and 30 percent. It gives salaried people a combination of a good work-life balance, salary growth and a variety of opportunities,” said Mr Abhinav Das, an observer of the city employment market.

Mr Ananth Shaw, who is also in the jobs market, said, “Hyderabad and Bengaluru have been leading the country’s prowess in the global IT/ ITeS and BPM domain. 

“In recent quarters, Hyderabad has picked pace on account of favourable government policies that have had a positive impact on the office market.”

In terms of real estate, which is directly linked to the city’s residential growth and talks of a large inflow of migrants, Hyderabad is the only place seeing high growth among the seven major cities.

Mr K. Raghunath, consultant and urban planner, said, “Among the seven major cities, Hyderabad is the only city where property sales have grown by 32 per cent on average from 2013-14 to 2017. The major reason is the political stability it gained in 2014. Another reason is the government's focus on the development of infrastructure.” 

The UN also sees Hyderabad and its surroundings having a steady tourist growth. The city also has a host of undiscovered tourist destinations.