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Hyderabad has witnessed the maximum real estate growth compared to Bengaluru, Mumbai-MMR, Delhi-NCR, Ahmedabad and Chennai. The city has seen the highest growth rate of 10% (CAGR) in residential launches over the past decade and a 11% increment in housing prices in 2023 indicating desirability for both investors and end users, according to Knight Frank Indiaโs India Prime City Index.
The Index analyzes the performance of six leading Indian cities across diverse growth parameters that include real estate growth, socio-economics, physical infrastructure and governance capabilities.
Hyderabad has been receiving investments in transport infrastructure, further accentuating real estate development, the report showed.
Bengaluru ranks second in real estate but remains the top choice for commercial occupiers, with sustained growth in residential real estate. Mumbai-MMR is ranked third followed by Delhi-NCR, Ahmedabad and Chennai, the report showed.
Mumbai-MMR maintains steady growth across all metrics, reaffirming its position as Indiaโs financial capital, and Delhi-NCR ranks highest for its superior physical infrastructure and governance, the report showed.
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โIndiaโs emergence as a global economic powerhouse is underpinned by the exceptional performance of a select group of cities that have transformed into economic and cultural hubs. Each of the six cities have distinct opportunities to accentuate sustainable and inclusive urban development in the country,โ said Gulam Zia, Senior Executive Director, Knight Frank India.
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Bengaluru ranks highest on socio-economic scale
Bengaluru has demonstrated the maximum socio-economic growth, driven by its thriving service sector that attracts a highly skilled workforce from across India and beyond. The city boasts of the highest workforce participation rate in the country at 76% and an unemployment rate of just 1.8%, the lowest among the six cities analysed.
Despite recent challenges in the start-up ecosystem, Bengaluruโs economic profile remains resilient due to its diverse business activities, as evidenced by strong real estate sales in recent years. The city continues to solidify its reputation as a prime destination for global investments and talents, the report showed.
Hyderabad is ranked second on the socio economics scale followed by Mumbai MMR, Chennai, Delhi-NCR and Ahmedabad.
Delhi-NCR leads in infrastructure rankings
Delhi, the national capital, leads the rankings in physical infrastructure. Home to Indiaโs largest metro network, the Delhi Metro boasts a daily ridership of 6.8 million and spans over 350 km, ensuring seamless connectivity across the National Capital Region (NCR). The city continues to strengthen its urban infrastructure with projects like the Eastern Peripheral Expressway.
Hyderabad comes second on this parameter followed by Mumbai-MMR, Bengaluru, Ahmedabad and Chennai, the report showed.
Delhi-NCR tops in e-governance initiatives
Delhi-NCRโs e-governance initiatives, such as the Delhi Government Services Portal, provide streamlined and user-friendly access to public services, with regular updates enhancing user experience. Alongside Delhi, Hyderabad, Ahmedabad, Mumbai-MMR, Bengaluru and Chennai also rank among the top cities for information security and privacy, showcasing its commitment to digital advancement, the report showed.
