Knight Frank India Report: The speed with which the country’s property market is growing is becoming a cause for surprise for those buying and selling property. There are many states and cities where property prices are sky high. In such an environment, global property consultancy Nike Frank India has brought out the latest India Prime City Index report on property prices and various property and city parameters in Indian cities. In this, ranking of six developed cities of the country has been made based on different development parameters.
This city occupies the first place as the fastest growing city.
On the basis of these development parameters, Hyderabad, the capital of Telangana, has occupied the first position as the fastest growing city. There are some main reasons behind this such as rapid infrastructure development, increasing demand for real estate, property market in Hyderabad is booming on the basis of ultra high net worth individuals and high net worth individuals, it is also due to its social- The economic profile and status is also being taken to higher heights.
Bengaluru is in second place
Another city of South India, Bengaluru, is also included in the top 6 cities in the Nike Frank India report and it is at second place in the overall ranking. The city is fueling entrepreneurship due to its exceptional talent pool and dynamic business ecosystem. One special thing is that on the basis of overall ranking of these cities, Hyderabad is at the first place. Bengaluru is at the second place and Mumbai-MMR has retained the title of financial capital of India by meeting all the metrics. Whereas Delhi-NCR is at first place in this region on the basis of its physical infrastructure and strong governance.
See which 6 cities are on top in the overall ranking?
1. Hyderabad
2. Bengaluru
3. Mumbai-MMR
4. Delhi-NCR
5. Ahmedabad
6.Chennai
Know which city wins on which parameters?
Bengaluru on socio-economic scale
On the basis of socio-economic scale, India’s Silicon Valley City also meets the socio-economic standards. The percentage of working population of this city is 76 percent which is the highest in the country and the unemployment rate here is only 1.8 percent which is the highest among the six major states of India.
Hyderabad Sirmaur on real estate scale
On the real estate front, Hyderabad has climbed the fastest to the number one position. Hyderabad has shown 10 percent CAGR in terms of residential launches in the last decade. In the year 2023, Hyderabad has achieved an increase of 11 percent on the basis of residential prices, which has progressed from the point of view of both investors and customers.
Physical Infrastructure and Governance
In terms of physical infrastructure and governance, the country’s capital Delhi and the National Capital Region i.e. NCR are at the first place. Delhi Metro transports 68 lakh (6.8 million) commuters daily during its total journey of 350 kilometers. Amazing work has been done in promoting urban infrastructure in the city and now through projects like Eastern Peripheral Expressway, it is entering into a phase of writing a new story of development.
On the governance front, many initiatives of the Delhi Government are going on in which efforts are being made to provide direct benefits and services to the public through the Delhi Government Service Portal.
Delhi, Ahmedabad and Hyderabad ahead on many fronts
In the latest report of Knight Frank, Delhi, Ahmedabad and Hyderabad are making their mark on many fronts like being one of the leading states of the country on the front of information security and privacy.
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