Investment in Hyderabad has 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. Proximity to workplaces is the biggest reason why people chose this locality. Hyderabad is a city of promise and after a long period of lull, they have finally chosen to invest in Hyderabad. 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.
Investment in Hyderabad in top 5 localities
Most Real estate developers have been focusing on localities
- 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.
- 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.
- 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.
- 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.
- 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.
