Hyderabad is the fastest-growing among India’s top six cities ranked on parameters like infrastructure development and policy initiatives, said a report by Knight Frank on Tuesday.
The real estate consultancy’s India Prime City Index also used socioeconomic conditions and governance for its rankings. Hyderabad’s growth is based on infrastructure development, real estate demand, rising number of ultra- and high-net-worth individuals, and policy initiatives.
Bengaluru is the second fastest-growing city amid “its exceptional talent pool and dynamic business ecosystem fuelling entrepreneurship.” Mumbai Metropolitan Region is third as it maintained steady growth across all metrics, reaffirming its position as India’s financial capital.
Delhi-National Capital Region (NCR), Ahmedabad, and Chennai ranked fourth, fifth and sixth.
In terms of socioeconomic performance, Bengaluru did better than the five other cities. Delhi-NCR’s physical infrastructure and governance capabilities are the best among the six cities, said the report.
Hyderabad’s growth in real estate is better than the other five cities. The city has had the highest compound annual growth rate, of 10 per cent, in residential launches over the past decade.
“India’s 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,” said Gulam Zia, senior executive director, Knight Frank India.