Hyderabad Recorded 2nd Highest Growth In Office Rentals!

The Pearl City Hyderabad has been witnessing a big growth across the areas of late. When we talk about the capital city, the IT sector comes to our mind. True to the image the state recorded one of the biggest exports in 2022-23. Experts say that in the financial year, IT exports increased.

But the city is seeing development beyond IT and other areas are also increasing. With this, the business market is getting bigger and bigger. Companies across the fields are showing interest in coming to Hyderabad. As a result, the office rental area is seeing big growth.

As an example of the growth witnessed by Hyderabad in the monthly office rental values, the city saw 8 percent annual growth. The data released by ANAROCK Research found that Hyderabad stands second in the office rental value.

The firm declared Hyderabad as the second-highest growth in the country after examining the data. As per the records, rental value in the city stood at Rs Rs 61 per sq. ft. in the first half of the financial year 2023. In the next six months, the price might go up to Rs 66 per sq. ft.

This is an example of how the rental space is increasing in Hyderabad and seeing growth. With an annual growth of 8 percent, Hyderabad stands second on the list only next to Chennai, which has a growth of 10 percent.

While it is a piece of welcoming news that Hyderabad witnessed a growth in office rental values, the same is the case in the country. Across the cities, the values increased with Chennai standing top with 10 percent growth.

The research firm also said that despite the companies laying off employees due to various reasons, the commercial office space market did not see any changes in the country in the financial year compared to the previous one.