Top 10 Areas to buy a Home in Hyderabad
“For every person who invests in a well-selected real estate in a growing section of a prosperous community adopts the surest and safest method of becoming independent, for real estate is the basis of wealth”.- Theodore Roosevelt
Real Estate Scenario in India 2019
In 2019, housing affordability showed a phenomenal improvement despite the economic slowdown. With predictions of growth in GDP to touch 6- 6.5%, according to the Indian Socio-economic Survey 2018-19, in the next year, the real estate sector is also deemed to be on the growth graph.
The concept of affordable housing has seen become the face of both the government schemes and also the private real estate developers. The real estate market has seen a drastic improvement despite the liquidity crunch after demonetization.
Best cities to invest in real estate in India in 2020
Hyderabad tops the list according to the Economic Times, followed by Delhi, Mumbai, and Bengaluru. With real estate developers in Hyderabad cashing in on the opportunity, the far-flung areas and the suburban peripherals of the city have become a sight to behold with gated communities equipped with a variety of amenities.
With the slowdown of realty all over India, it was assumed that the real estate market slowed down in Hyderabad too. But the reality is that the market in Hyderabad has expanded over the last few years in contrast to the markets elsewhere. With the gradually expanding real estate market, emerged new localities for residential and commercial purposes.
The commercial and industrial infrastructure developed at a rapid rate and this attained the need for the establishment of residential real estate within a radius of 10 km approximately. The market gradually expanded to the outskirts of Hyderabad and bordering the ORR. Since the main city is densely populated, the cost of real estate boomed over the years and this necessitated the expansion of residential real estate. The areas like Banjara Hills, Jubilee Hills are highly populated and the scope for expansion of residential areas has become low due to rocky terrain, heavy congestion, and saturation.
The main reason for the expansion of real estate is due to the surge in the establishment of software firms like Wipro, Infosys, etc. The rapidly evolving infrastructure and the impetus given to the growth of commercial corridors play a major role in making Hyderabad a major hub for investments. With many realtors in play, customer awareness has increased on par with their demands and requirements.
This led to the real estate developers in Hyderabad taking care of the requirements of the customers into consideration like ROI, growth in rental rates, the existence of physical infrastructure like roads, schools, hospitals, transportation, etc. The average size of a home has become a major criterion along with affordability and sustainability.
Why development in Hyderabad now?
The Telangana Government’s new initiative of “Look East Policy” has provided an impetus to the development of infrastructure in the eastern part of the city including areas like Uppal, Nagole, Bhongir, Yadagirigutta, etc. The metro connectivity from Hitech city to Nagole, Inner Ring Road, and the social infrastructure have spurred the growth of real estate in these regions.
These areas are still under developing stage with proposed pharmaceutical and industrial plants, so the prices are estimated to rise in 2020 and after. Investing in a property in these localities now will promise high returns on investment.
Areas like Gachibowli, Kokapet, Patancheru, Nanakramguda, Choutuppal, etc have seen a booming infrastructure development in terms of both commercial and residential realty. The proximity of Outer Ring Road and the Rajiv Gandhi International Airport, Hyderabad to these areas has pushed the development of this area with educational institutions and industries occupying most of the landscape. Areas like Patancheru are surrounded by residential hubs with apartments and gated communities for sale in Hyderabad with areas like Miyapur, Nizampet, Kukatpallyin its close proximity which is a major push to the development of realty in the peripheral areas. Nanakramguda and Kokapet are relatively newly developed outer peripheries of Hyderabad and also hubs of industrial and service sector establishments. The vast expanse of land available made it feasible for the construction of gated communities in Hyderabad on the lines of upcoming educational institutions and medical facilities. Since the requirement for the average home size has always been based on the family size, the demands vary.
Areas like Kavadiguda, Nagole, Uppal, Pragati Nagar, Kukatpally, etc. have been the hubs of development and the recent residential realty upsurge has created a demand for stand-alone apartments and duplex villas in Hyderabad. These areas are center to all amenities like railway stations, entertainment arenas, and government offices.
Upcoming real estate projects in Hyderabad are mainly focussed on Gated community villas, apartments, and open plots being undertaken by real estate developers with their main focus on HMDA approvals which provides an authentic experience to the potential home buyers.
Where in Hyderabad?
The Medchal-Malkajgiri District of the State of Telangana borders the HMDA and is included in the Hyderabad Metropolitan limits. With the metro connectivity being expanded, the eastern Hyderabad zone has gradually experienced a rise in the real estate market. The Uppal neighborhood is home to a population of almost 1.2 Lakhs, according to the 2001 Census. With a growth in the software service sector in the region, the overall population of the area is estimated to have doubled. This has resulted in the need for residential realty in the surroundings. With an international cricket stadium in its vicinity, Uppal is an area sought after by the property buyers in Hyderabad.
Nagole is a residential and commercial locality in Hyderabad. It is contiguous with the inner ring road and has direct metro connectivity to both Hitech City as well as to the main market places and government office complexes. Previously, the significant flow of traffic hindered the development of this area, which is now addressed by the Metro Rail.
Famed for the Narasimha Swamy Temple and a pious religious sanctity to this place, the recent expansion into the outer areas of the erstwhile Ranga Reddy district has led the real estate developers in Hyderabad eyeing this place for new ventures. This sacred region is now a hub of real estate ventures including apartments, gated communities, and villas in Hyderabad.
This historically significant place with its ancient forts, structural and architectural grandeur was a tourist attraction till recent times. But it has now changed face into a golden duck for real estate developers in Hyderabad with its unexplored terrain and pristine lush greeneries. The place is connected by public transport and it is also famous for its rock climbing school which trains rock climbers in this adventure sport.
Nanakramguda is a suburb in Serlingampallymandal, Hyderabad famed as the IT Financial District. This area houses the IT SEZ and Film Nagar, both of which employ a large number of personnel. The area and the residents demand premium affordable housing. The huge demand for gated communities in Hyderabad comes primarily from the individuals and families employed here.
Flanked by the densely populated areas of Kukatpally and BHEL, Miyapur has the added advantage of unexplored territory as well as an already established industrial area. The need for low budget apartments in Hyderabad has led to the construction of low cost gated community apartments and villas in this region. It also showcases many natural lakes and public parks for the residents to enjoy a serene environment. The additional benefit of last-mile connectivity through Metro Rail is a huge breakthrough for the real estate projects in Miyapur.
Pathancheru is the major industrial hub of Telangana state. Industries such as Rubber industries, Asian Paints, Pharma companies and many other MNCs are housed in this area. A number of educational institutions such as ICRISAT, Engineering Colleges, and Schools are the main pull factors for migration to this area. With rumors of high rates of pollution in the previous years, the area saw a decrease in real estate in this area. But the situation was effectively handled in the recent turn of events, and the realtors have come forward to develop this region.
Kukatpally has been the initial growth hub during the expansion of the software service sector in Hyderabad. Gradually the area has been expanding in space and time to be the largest region in the two Telugu states for migrating population. The stand-alone apartments in Kukatpally have been in demand since the area’s inception. With an increase in the number of migrant employees to software and the industrial estates of Bala Nagar, the demand for residential establishments have also been increasing exponentially. The top real estate developers in Hyderabad are competing to provide world-class premium affordable housing in this area.
Popular as IDA Bollaram, this Industrial Development Area is one of the largest industrial hubs in Hyderabad and its surroundings. It is surrounded by Bachupally, Miyapur, and Ameenpur, all of which are industrial areas. Industries like Dr. Reddy’s Labs, AurobindoPharma, Mylan, Coca Cola, etc. have established their plants here. This also has led to a demand-driven development of real estate in Hyderabad.
Close proximity to the Secunderabad Railway Station, metro connectivity to all of Hyderabad and surroundings, establishments like CGO Towers, Power Grid, etc. Osmania University, Educational Institutions for competitive examinations, etc. are all the major factors for residential establishments in the area. Though the area has reached saturation, new sites for development have been taken up by most of the real estate developers in Hyderabad.
Hyderabad's real estate sector has shown a 30% increase in the residential sector. Property sales have increased significantly by 16% over the previous year, according to Hindu Businessline. Now is the time to invest in property in Hyderabad because economists and experts predict a surge in prices in the real estate market in Hyderabad in the near future.
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