High growth in office leasing activity, robust infrastructure development and competitive pricing was positioning Telangana’s capital Hyderabad as one of the most affordable residential markets for buyers in the region, said global real estate consulting firm CBRE South Asia In a report released on Friday, the consulting firm said Hyderabad had registered an annual growth of 109 per cent in office leasing activity during 2016. In the January-March quarter this year, the city saw an uptake of over 1.3 million square feet of office space.Corporates were increasingly looking at Hyderabad market while planning their expansion strategies in the region, attracted by lowest office rentals across top markets in South India.Further, the consulting firm said, the continuous growth of the Information Technology sector in the city has had a cascading effect on the housing market in corresponding hubs. The residential activity in North Hyderabad was primarily driven by the presence of industries such as pharmaceuticals, biotechnology and electronics, among others.“Strong political stability, coupled with the city’s inherent strengths, including its status as a prominent IT hub, a robust institutional base, supportive government policies and large infrastructure initiatives are augmenting Hyderabad’s real estate development,” said CBRE India and South East Asia chairman Anushuman Magazine, while inaugurating the consulting firm’s property fair PropFair 2017 in Hyderabad.“This, coupled with the city’s strong office leasing activity in the recent past, is having a positive impact on the residential market. Going forward, we expect the city’s residential market to further pick up.”Hyderabad real estate was both end user and investment led with housing segment witnessing positive traction in the recent past in the city, which is ranked 144 in Quality of Living Index, said Magazine.Hyderabad still has a lot of room to grow unlike other cities in South India where capital values for residential real estate had reached top level, said AS Sivaramakrishnan, Head, Residential Services, CBRE South Asia. “The government’s concerted efforts to improve physical and social infrastructure in the state are making it an attractive option for business development.”CBRE views that further growth of the housing market in Hyderabad would be aided by increase in commercial activity, stable political environment, relatively lower pricing for residential properties compared to other tier-I cities, apart from lower land costs and improved social and physical infrastructure.