HYDERABAD: Telangana's government aims Hyderabad to be one of the top 30 cities in the world, state Municipal Administration and Urban Development Minister KT Rama Rao (KTR) said.
"We are not competing with any other city in India; our aim is to place Hyderabad among the top 30 cities in the world in terms of quality of life and economic competitiveness," KTR said during the release of the department's annual report.
KTR stated that Mercer has rated Hyderabad as the top city in India for the past six years in the "Quality of Living Index." In all purchasing power indexes, safety index, healthcare index, cost of living index, property price to income ratio index, traffic commute time index, pollution index, and climate index, Hyderabad remains number one.
In terms of the real estate market, he claimed that Hyderabad was the best-performing residential market in 2021, with sales up 142% year on year. "According to a Knight Frank analysis, Hyderabad is the only city among the eight metros that has not had a single year of price reduction since 2014," KTR said.
Housing inventory backlog fell from 53 months in the first quarter of 2021 to 27 months in the same time of 2022, a remarkable 26-month drop, the minister added.
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