Hyderabad: Hyderabad registered highest the housing sales in eight years in 2022 according to a UK-based international property consultant, which said that the city was “surging as the economic powerhouse of India.”
The report by Savills, highlighted the economic growth of Hyderabad since the formation of a separate Telangana state and among the key factors that led to this growth was that the city has topped in terms of office leasing activity.
It said data centres, the “sunrise sub-sector within real estate,” had emerged as a favourite asset class for investors, and around 26 per cent of the 500 acres of data centre-related land transactions in 2022 nationwide came from Hyderabad.
The report said that in the retail segment, 2022 had seen annual supply addition of around 1 million square feet, recording an increase for the first time since 2018. As of December last, Hyderabad had around 8 per cent share in the operational mall stock of India.
