Tuesday, February 11, 2025

Analysis : Hyd poised for steady, balanced economic growth

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T Hub (Technology Hub) is undoubtedly the new face of HI-TEC City and Hyderabad Knowledge City the coveted address for the new generation. While a ground visit would confirm that, the moot point is the thought and action behind the scene.T Hub is a collaboration of the State, 3 premier academies (IIIT, ISB and Nalsar) along with the private sector. HI-TEC City has made Hyderabad a competitor to Chennai and Bangalore, making it one of the fastest-growing IT cities in India.

The allure of Hyderabad is the huge opportunity the city offers in attracting and housing start-ups, innovation-driven tech firms, banking and financial services firms and the ever-growing presence of IT & ITES which are drawn by the relatively low cost-superior infrastructure, divergent pool of engineering talent, affordable cost of living, cultural neutrality and governance which has been successively proactive and progressive.
The ecosystem for life sciences, biotech and pharma Aside from the growth of the IT & ITES sector, it is heartening to the see the growing ecosystem of life sciences, biotech and pharma. Most of the firms are MNCs and large Indian firms that are located at the Genome Valley, high-technology business district spread across 600 km² covering the suburbs of Turakapally, Shamirpet and Medchal. The estate here is designed and developed as well as the HI-TEC City and Financial District and continues to be the hub of attraction for real estate developers like Neovantage (erstwhile MN Park), RX Propellant and the pioneering presence of 200 acres by IKP (ICICI Knowledge Park).

South of Hyderabad has a ready base of land, buildings and infrastructure and promotes bio-medical devices, electronics, and cellular communications etc building FAB ecosystem in the region.The state government has big plans to expand the IT corridor west of Greater Hyderabad to the south.Telangana has a robust IT Software sector which will complement the IT hardware sector.The Government of India has approved an IT Investment Region for Hyderabad as well as two Electronic  Manufacturing Clusters. The large health industry in Telangana will support bio-medical devices and medical electronics

Aviation ecosystem:

Hyderabad is home to a large number of defence aero-space and defence research laboratories like DRDO, DRDL, RCI, BDL, MDN, Ordnance Factory, DMRL etc. In addition to the five large Tata investments in aero-space, there is also the GMR MRO. A group of innovative aero-space SMEs also exist in Hyderabad, which has supplied components to the Chandraayan and Mangalyan initiatives.

The Hyderabad Aerotropolis of approx. 1,500 acres, located at the International Airport at Shamshabad, is one of India’s largest airport-based, mixed-asset integrated ecosystems, which provide a world of exciting real estate opportunities. From lands for educational institutions in K-12 to Industrial SEZ and non-SEZ, from ready office space to build-to-suit campuses; from retail to hospitality a whole new city is emerging and continues to attract end users, investors and developers.

Growth in Dispersion (GRID):

The Telangana government’s policy, evident by its nomenclature GRID is far-sighted and aims to address immediate concerns of congestion. The vision is to drive growth of IT and ITES across the four corners of the city by de-cluttering the present western prominence. Moreover, there is presence of over 200 companies in the small to mid-segment spread across East, North and South. The GRID Policy is also designed to incentivise companies to establish IT parks, malls, hotels and residential spaces in the north and south-bound areas of Hyderabad.This eventually will lead to all-round real estate development. Post formation of Telangana, tides have turned for Hyderabad as the enthusiastic and determined government has embarked on a systematic plan of economic development across the city without ignoring the basic necessities of power, water, social equity, law enforcement and stable governance.

With large supply comes an opportunity of scale. While the uninitiated may only sum the volume of ‘announced’ commercial projects, the actual delivery of Grade A space in Grade A locations meets the demand well and thereby the rental price continues to be tending upward.

Current state of real estate can be interpreted by sentimentalists or analysts and each one may infer it differently; though what is not in dispute is the way forward. This city has the making of a destination of sorts. Ecosystems are not easy to find or replicate and infrastructure being a key driver, Hyderabad is a clear winner by a mile amongst most cities. Real estate follows its key industry drivers. With industry maturing here, the residential estate and retail bit follow quite predictably.

The Covid-19 pandemic, bifurcation of erstwhile Andhra Pradesh state, etc., have caused some hiccups; yet, Hyderabad is poised for a steady and balanced economic growth, creating a new international benchmark for sustainable industrial cities.

(The writer is Senior Branch Director – Hyderabad at Knight Frank India)

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