With ample growth drivers, Shankarpally has carved a niche for itself in the residential realty map of Hyderabad. “Shakarpally, in the western suburbs, has emerged as a coveted investment destination in the city on the back of proposed infrastructure projects, ample land supply, a spurt of residential developments, and proximity to the IT hub of Kokapet,” said Prashin Jhobalia, VP Marketing Strategy, House of Hiranandani.
In an exclusive interview with RoofandFloor, he spoke about how Shakarpally has grown over the last few years, key growth drivers, investment potential, and much more.
Here are the excerpts.
Tell us about Shankarpally’s connectivity and social infrastructure.
Shankarpally boasts of strong connectivity. It is well-connected to other parts of the city through Outer Ring Road (ORR). The Telangana State Road Transport Corporation (TSRTC) buses also ply frequently, ensuring hassle-free travel to central areas of the city.
The locality is also home to some of the prestigious colleges including St. George College of Education and IIT Hyderabad. It also provides easy access to recreational centres such as Lahari Resorts, Gayatri Shopping Mall, and Sal shopping centre.
What are some upcoming infrastructure projects that are likely to further catalyse the growth of the locality?
The infrastructure projects proposed by the State government have significantly corroborated the real estate expansion in Shankarpally. One of the most important projects that have brought Shankarpally to the limelight is the proposed IT City at the Golden Triangle of Hyderabad that includes Shankarpally-Muthangi-Kokapet.
Additionally, a 100 feet road and a four-lane highway have also been planned between Cyberabad and Shankarpally. Currently, the distance between Cyberabad and Shankarpally is around 35km. However, the proposed connectivity links are expected to abridge the distance and turn Shankarpally into one of the most important investment destinations in Hyderabad.
Apartments vs plots – which property type has more demand here?
Several leading real estate developers in the city have made their way to Shankarpally, which has opened a floodgate of opportunities for potential investors. From residential plots to residential units to independent properties, the location offers a multitude of options.
However, residential plots are the most preferred property type in Shankarpally owing to comparative affordability, limited maintenance, and higher capital returns. The price usually ranges anywhere between Rs 2,000-4,500 per sq. ft.
Who are the buyers?
End-users dominate the property spectrum here, usually, IT professionals working in HITEC City, Kokapet, Manikonda, and Madhapur. Additionally, there also some interest from NRIs for investment purpose.
What is the expected ROI in Shankarpally?
The Telangana government has proposed the development of a new IT city at the Golden Triangle of Hyderabad. The development would incorporate a workspace of 90 million sq. ft. to accommodate five lakh working professionals. The anticipated development would not only propel real estate growth but would also spike property prices in the area.
As estimated, land prices in Shankarpally might grow by 30-35% and residential units might witness a 15-20% hike in the average capital ‘asks’ in the times to come.
Great blog created by you. Shankerpally is one of the best developed area in Hyderabad.This area is perfect in investing for a home.
The real estate market in Hyderabad is good, investors and customers are willing to spend. After the outbreak of 2020, real estate is growing in 2021. Thanks to roofandfloor thehindu, for sharing this.