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Top 5 localities to invest in Hyderabad
Housing.com  |  June 13, 2019

Sneha Sharon Mammen

Absorption of commercial space has had a spill-over effect on residential realty, with a number of professionals investing in Hyderabad. We look at the top localities to invest in and the price movements in the Hyderabad market

 

Hyderabad is one of the employment hubs in India. In 2016, there were 250 listed companies across Hyderabad. Thanks to the influx of professionals, the demand for homes is forever on the rise. Housing.com data suggests that Manikonda, Kukatpally, Gachibowli, Miyapur, Bachupally, Kompally, Kondapur, Dammaiguda, Chandanagar and Nizampet are the top localities that are preferred by home buyers. Except for new and evolving localities like Dammaiguda, all other localities have registered a sizeable upward movement in prices. While prices have been climbing reasonably, it remains stable enough, to avoid disrupting one’s finances. This indicates that the real estate market in the city is healthy and there is enough momentum, to beat any capital value erosion.

 

Employment hubs drive demand for properties in Hyderabad

 

What ensures the continued preference for these localities? One of the top reasons is that these are very close to the job markets. Mita Karunya, a 32-year-old home buyer in Nizampet says, “Proximity to my workplace was the biggest reason why I chose this locality. Hyderabad is a city of promise and after a long period of lull, I have finally chosen to invest this year. There are certain factors such as water availability that one must investigate but on the whole, the city is full of opportunities for the young.”

 

Property prices in Hyderabad’s top localities

 

Given the affordability, most real estate developers have been focussing on 2BHK and bigger units, rather than 1BHK units. As a result, there are very few 1BHK units. Among the top localities, only Kompally and Kondapur have a sizeable supply of small units. Gachibowli commands a premium, when it comes to 2BHK and 3BHK units. At Rs 1.30 crores, 3BHK units in Gachibowli are the costliest of the lot. On the other hand, Dammaiguda offers the most affordable 3BHKs, with the average price being Rs 60 lakhs. Dammaiguda is followed by Chandanagar and Bachupally.

 

Recent developments in Hyderabad’s top 5 localities

 

1. Manikonda

 

The Greater Hyderabad Municipal Corporation (GHMC) is looking at giving a facelift to existing roads that are running under power lines. Widening of these roads would definitely decongest traffic to a great extent. This would also positively impact property prices in the area.

 

2. Kukatpally

 

Electric vehicles can now be charged at the Kukatpally metro station, free of cost. Smart parking facilities are also being planned in Kukatpally. The same was launched at Begumpet metro station recently.

 

3. Gachibowli

 

Giving a boost to public transport, four new luxury buses have been introduced by the Telangana State Road Transport Corporation in the IT corridor, between Kukatpally and Hitec City via Gachibowli. While this provides some relief, commuters have been demanding more.

 

4. Miyapur

 

Just like Kukatpally, Miyapur is likely to have a smart parking system, which provides real-time information about parking facilities for two and four-wheelers on a mobile app. It is hoped that this will take care of civic problems, such as illegal parking in and around busy stations such as that of Manikonda.

 

5. Bachupally

 

It is estimated that 70 million sq ft of office space will be coming up in Hyderabad’s western localities, over a period of five years. Bachupally, an evolving location, will be a beneficiary in this regard and a number of residential launches have already surfaced. Now, the authorities are planning to improve social infrastructure, to take on this added population in due course of time.