Massive celebrations have been seen in Telangana as the state completed its first year of formation on June 2’. The newest state in the Indian Union was created after a long political and social struggle, and the new government had for a most part in such a short duration, has been successful in fulfilling the needs and aspiration of people as well as giving a better picture of the state to investors.
Mr Chandrasekhar Rao’s governance did see a lot of positive feedback and interest from global investors and trends indicate the surge in real-estate sector after a long time, which is often a benchmark for any analysis of development.
Telangana is now the richest state in India in terms of budget surplus and utilization, and ranks next only to Gujarat. It might come as a surprise that the vacant office spaces in Hi-Tech city have reached an all time low of 3% from 8% a few years back, and the per SFT lease for commercial space has almost doubled with the increasing demand.
Apart from the numerous investors and multi-national companies that came up in Hyderabad since the past year, this single real-estate statistics says everything about the actual growth that the state has been seeing, along with a steady IT growth rate of 15% in just the first year of a new government. This lone benchmark can be seen as the most positive aspect of the forecasted growth of the new state.
On this memorable occasion, we wish all a Happy State Formation day and look forward for everyone’s sense of belonging and co-operation in taking this state to new heights.