The housing and real estate boom in Hyderabad Real Estate is being driven by NRI inflows into India. The reason for heavy NRI investment into real estate is that they would like to have a long-term view into India, given the upcoming demographic dividend, and the overall growth prospects.
It also needs to bear remembering that Hyderabad Real Estate can only appreciate over the long run (high density, massive demand, growth concentrated in a few regions). Plus, zoning between commercial and residential areas in most high growth regions continues to be quite weak, and that also pushes up demand significantly.