The Jones
Lang LaSalle (JLL) survey recently announced Hyderabad, Bengaluru, Pune and
Kolkata among the top five cities in their short-term Momentum Ranking annual
global survey. Delhi, Mumbai and Chennai also earned a spot in the Global Top
30 index.
The global
report of the City Momentum Index (CMI) 2018 was dominated by various Indian cities.
The report ranked Hyderabad as first. The other cities in the Top 10 list were
Bengaluru (2nd), Pune (4th), Kolkata (5th) and
Delhi (8th). Mumbai (14th) and Chennai (20th)
were two more cities that added to India’s outstanding performance.
Short-term
momentum rankings recognize real estate markets and urban economies which are undergoing
rapid changes. The rankings also take into consideration their performances on various
other parameters.
Human
resource, connectivity, real estate investments, corporate activities, economic
output, property prices, construction and retail sales are the key factors that
the report undertakes. The stellar performance of Indian cities was due to the highest
rates of demographic and economic growth. The overall efforts of the government,
along with the builders present in the city, help increase the attractiveness
of a city.
For
instance, companies like Ramky Group, Modi Builders, Prestige Group, and
Dream India Group have brought tremendous positive changes in the real estate
sector of Hyderabad. The boom in the city’s investment infrastructure is also
one of the many reasons that earned it the first spot.
CMI, which is
now in its fifth year, gauges a wide range of factors in order to determine the
cities, which possess the characteristics for long and short-term success. As
many as131 major established and emerging business hubs across the globe are
covered under the index. Each city’s socio-economic and commercial real estate
momentum, along with its capability to future-proof itself, defines its ranking
on the global level.
A set of
standard guidelines, and all the above mentioned criteria combined together
yield the final result. Hyderabad exemplified how to cope up with challenges, including
the strains on infrastructure and local amenities.
Moving
forward, Hyderabad promises a growth trajectory like no other city. Continued
demand for technology and an upsurge in the number of companies have also given
rise to people shifting base to the city.
Another
major factor that is closely related to increasing residents is the upcoming of
affordable housing solutions in the city. Prestige Group, Ramky Group, Modi
Builders Group and others are ensuring that they provide the best economical houses
to people. With a vision to amplify the infrastructure facilities in Hyderabad,
they have been contributing significantly.
Increasing public
and private investments along with a stable political environment have
increased people’s trust in the city. Enhanced connectivity, with the launch of
Hyderabad Metro Rail has also played a key role in flourishing the realty
market.
Showcasing
exceptional performance, Hyderabad has not just outdone the CMI, but has also
earned the top position as the leading tech hub in the country. It has also
emerged as the real estate hotspot for investors.
A city’s
growth is dependent on the developers. Understanding the strategies and implementing
them to support the new economic activities, their projects help facilitate sustainable
communities. Also, with India’s talent pool being a key consideration, businesses
are bound to grow in the cities that have access to retained workforce and
attract new workforce at the same time.
Apart from
being a major outsourcing location, leading Indian cities like Hyderabad are
also home to research and development facilities. The impact of favorable
government policies has brought in a positive drift in the global rankings.
The visible
changes are set to bring healthy trend that will drive India’s position up the
ladder. It is only a matter of time when we’ll see more cities breaking records
in the City Momentum Index.