Hyderabad has expanded immensely in recent times thanks to the IT boom. Similar to Bangalore, Hyderabad is being awakened from its snug slumber by young professionals winding their way to the city from all over India.
The Hyderabad landscape, once distinguished only by Charminar or the Buddha statue at Tank Bund, now shines with tall, gleaming skyscrapers housing multinational IT and accounting firms. And, of course, with commercial growth comes an undeniable expansion in real estate.
With tony neighbourhoods like Jubilee Hills and Banjara Hills already reaching full capacity and sporting prohibitive prices, housing options have mushroomed in the suburbs around Hyderabad.
Currently, the focus is on Western Hyderabad where IT firm clusters have cropped up, and housing options range from budget-friendly to luxury. According to a report by real estate firm Knight Frank, Western Hyderabad accounted for 60% of the overall residential launches in 2015. Here are a few of the promising, upcoming neighbourhoods in West Hyderabad where real estate investments are on the rise.
Gachibowli
Located 5 km from HITEC City, Gachibowli is one of the most sought after pin codes in Hyderabad.
Where: Situated in Serilingampally Mandal in Rangareddy district, it is a suburb that is well connected by road to key areas like Mehdipatnam and Koti and also to the international airport, which is around 30 km away. Connected by the Mumbai Highway and the Nehru Outer Ring Road, the area’s biggest USP is that it offers world-class social infrastructure and amenities.
Why: The presence of prestigious educational institutions like the Indian School of Business as well as the University of Hyderabad makes Gachibowli a magnet for not just salaried workers but also for students. Gated communities and plush apartment complexes offering international living standards dot the Gachibowli skyline.
Cost: Prices are affordable at Rs 3,000 to Rs 5,200 per sq ft although rentals are slightly on the higher side as per reports in early 2017.
Kukatpally
Located around 10 km away from Gachibowli, Kukatpally is another upcoming residential suburb that’s much in demand.
Where: Situated conveniently close to HITEC City and the financial district, Kukatpally offers a high quality of living with short commutes for professionals working in the IT and financial industries. Well connected by the Mumbai Highway (NH9) to the city centre, Kukatpally is also homes to premier educational institutions like DAV Public School, Daffodils Public School, Jawaharlal Nehru Technology University and Vishwa Bharathi College of Engineering.
Why: Kukatpally has emerged as a micro-market with all amenities like renowned hospitals, well-stocked malls, supermarkets and other retail outlets. One of the biggest draws of Kukatpally, once an old housing board colony that was developed by the Andhra Pradesh government, is that it now falls under the Greater Hyderabad Municipal Corporation. This translates to superior civic amenities and facilities automatically making it a preferred location among homebuyers.
Cost: Currently, property prices here range between Rs 4,000 to Rs 5,000 per sq ft. But prices are definitely on the rise given its location on Corridor 1 of the Hyderabad Metro, which is reaching completion at a fast pace.
Madhapur
Madhapur, originally named Madhava Puram by the locals who were devotees of Krishna, was a small village in the 1990s.
Where: Madhapur, as it’s known now, has transformed into a glitzy IT hub that is now known for having one of the densest concentrations of tech companies and also one of the fastest growing commercial areas in Hyderabad. In 2015, almost 70% of commercial leasing and rental activity occurred in Madhapur along with 85% of new constructions
Why: It is home to the National Institute of Fashion Technology, Manthan International School, the CGR International School, and ISB. High-end malls, automobile showrooms and multiplexes all make Madhapur a highly coveted suburb.
Kompally
Located just 10 km away from Secunderabad, Kompally is a suburb that has grown at a blisteringly fast pace thanks to its high accessibility factor. Kompally was once a small village known for its farmhouses and vineyards that have now been converted into residential properties.
Where: Conveniently located on the Outer Ring Road and, due to its connectivity, too many of the major highways linking it to the city centre and other states, Kompally is now the base for many logistic businesses. The residential real estate has also naturally grown simultaneously and the area offers affordable housing for people working in the many cargo and warehousing companies located there. The availability of cheap and vast tracts of land in Kompally has also led to the setting up of many educational institutions and retail spaces as well.
Cost: Being just an hour’s drive away from Hyderabad and the availability of apartments in the range of Rs 30-40 lakhs has made Kompally a highly viable place to invest in.
Nallagandla
Not very long ago, Nallagandla was one of the many villages that formed a fringe around upscale Jubilee Hills. But like the other villages surrounding Hyderabad, its fortunes changed with the IT revolution and construction of the Outer Ring Road.
Where: Located in such a strategic and convenient spot with the international airport being just 40 km away and the Lingampally railway station 1.5 km away, Nallagandla is a hub of activity.
Why: Prestigious schools, colleges, and other educational institutions are all within a 15 km radius while excellent hospitals and healthcare amenities are 8 to 9 km away. Due to these factors, Nallagandla has a mixed residential demographic profile that includes all income groups. IT professionals, students, businesspeople, faculty who serve in the educational institutions, BHEL employees, and NRIs looking for retirement options all form Nallagandla’s residents.
Cost: Nallagandla has a variety of housing options from budget apartments to luxury villas. The area even has beautiful parks, the Nallagandla Lake and other scenic spots that make it quite attractive to investors.
With well-connected roads and modern infrastructure, Hyderabad has won the title of India’s ‘most liveable city’ in Mercer’s Quality of Living survey. With its suburbs flourishing, it looks like the city might just continue to hold on to that title for a long time to come.
