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Saturday 21 April 2018

India dominates the City Momentum Index, Hyderabad tops the list


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.