The Face of Real Estate Market in India-
The real estate sector in India is one of the most globally recognized sectors having emerged as the second largest employer after agriculture with a growth rate of 30% over the next decade. It is estimated that the Indian real estate market is expected to touch US $ 180 billion by 2020 with maximum contribution coming from cities like Hyderabad, Bangalore, Chennai, Mumbai, Delhi and other tier-II and tier-III cities. The housing sector alone contributes to around five to six percent of India’s GDP.
In such circumstances, the real estate market in Hyderabad is growing rapidly with several initiatives being taken by Government of Telangana to encourage development of the real estate in Hyderabad. The role played by architects and builders in the real estate development of Hyderabad is enormous as they are accepting fresh challenges in meeting the growing need for building multiple projects across the city of Hyderabad and its outskirts.
Role of architects:
The role of architects in Hyderabad real estate development is quite immense as they are bringing the creative ideas and visions of the real estate developers in addition to taking care of needs of the buyers of the real estate who are using these new spaces. With the help of architects, the real estate development in Hyderabad are transforming exponentially with newer living spaces, smarter infrastructure development and taking ahead the ideas of India’s transformation agenda thorough policy advocacy of green field cities.
The historical perspective of Hyderabad in the form of constructions such as Charminar, Golconda and other monumental constructions shows expertise of architects of Hyderabad. The role of architects in Hyderabad real estate development can be gauged by observing many posh colonies such as Banjara Hills, Jubilee Hills, Madhapur, Kondapur and Hi-tech City built and designed by architects and civil engineers.
There are popular architects in the city of Hyderabad who are working with leading developers in the real estate industry spread across the city of Hyderabad thereby helping this city in the creation of architectural marvels. Reputed real estate developers such as Shapoorji Real Estate having immense experience in the residential and commercial sectors have employed architects of immense caliber in bringing alive the historical as well as modern perspective of Hyderabad’s real estate development. They were the interior designers of Emmar Convention Center in Hyderabad in 2006. Architects are helping builders in fixing their budgets of their projects. Architects of Hyderabad are helping in removing the social inequalities as well as protecting the environmental issues. One of the reputed architectural firms has in fact accepted the challenges of social hierarchy by employing the concept of greenery by identifying the functions of the gardeners. They devised a green wall, the maintenance of which was charged on these gardeners in such a way that they could freely travel to any part of the building. Thus, it can be well said that architects are playing an important role in the development of Hyderabad real estate.