For the last couple of years, Hyderabad has continually surfaced in real estate news as being one of the best cities to live in, in India, and also one of the most affordable, according to a 2016 report by financial advisory firm ArthaYantra.
While other metro cities in India have seen a decline in the size of the area that Rs 1 lakh can buy (as a baseline), Hyderabad has seen it go up. “Over the past four years, the property prices have declined by 10.46% while the rental values have increased just by 6.3% during the same period,” the report specified.
However, prime areas like Jubilee Hills, Banjara Hills, and Mehdipatnam remain on the relatively expensive side. First-time homebuyers or professionals migrating to the city and looking for apartments to rent would be better off looking in the more affordable areas of the city. Here are our top five recommendations on where to find affordable homes in Hyderabad.
Uppal
Uppal is located on the outskirts of East Hyderabad, and yet it is one of the most viable investment locations right now. In addition to multiple IT companies, Uppal is also home to the National Geophysical Research Institute and Centre for Cellular and Molecular Biology whose employees find the suburb a convenient location to stay.
It is also only 6km away from Tarnaka, which is a prominent residential and IT area and 13km away from Pocharam, which has the second-largest Infosys campus.
Buyers here are from the middle and upper-middle-class segments who wish to live in spacious houses, preferably independent houses. Buyers, who want to stay away from the chaos of the city, and still be connected can consider Uppal.
Uppal’s greatest advantage is the fact that it is located between Hyderabad and Secunderabad, being just 10km away from both cities. The Uppal-Ramanathapur Road and the Uppal Main connects the suburb to both cities.
The nearest railway station is at Kachiguda, which is also 10km away. With the Uppal Metro Station also quite close, it is a viable location for the employees of companies that have made their base here.
Property prices in Uppal are among the lowest in Hyderabad, and its environs currently range between Rs 2,600 per sq.ft. and Rs 3,658 per sq.ft.
Manikonda
Located between Outer Ring Road (ORR) and Telecom Nagar, Manikonda has emerged as one of the top investment localities in Hyderabad.
Its popularity rose due to the steady stream of IT companies that have set up their offices in the vicinity, predominantly in the Lanco Hills Tech Park. Backed by the Telangana Government, the Lanco Hills Tech Park has a 7.85 million sq ft of built-up area comprising SEZ and non-SEZ zones.
Additionally, employees in Gachibowli and HiTech City are also coming to Manikonda for its connectivity and affordable rates.
Manikonda has now grown into a commercial and residential hub with good social infrastructure. It offers a direct, signal-free road to the Rajiv Gandhi International Airport, which is 14 to 16km away.
Connectivity is great with the Indira Gandhi flyover just 3km away and the ORR connecting National Highways 4, 7, and 9.
Moreover, Manikonda is only 10km away from Jubilee Hills. In 2016, it was estimated that investing in Manikonda property would give an average return of 8% to 9% in the long run.
Property prices range between Rs 2,678 per sq.ft. and Rs 3,807 per sq.ft.
Miyapur
Well-connected roads, great social infrastructure, and amenities all make Miyapur a hot investment destination for people looking to buy houses. Located 22km away from Hyderabad, Miyapur was once a small village belonging to the Deccan rulers and whose primary income was from agriculture, dairy, and quarrying.
Today, it offers affordable homes and multiple employment opportunities. Miyapur is connected to the city centre via Miyapur-Gachibowli and Miyapur-Kompally Intermediate Ring Roads. It is also close to National Highway 65, which connects it to Pune and Machilipatnam.
It is a few kilometres away from premium areas like Nizampet and Kukatpally and is 50km away from the international airport and Begumpet airport. The nearest railway station is Hafeezpet, which is 4km away.
The Hyderabad Metro Rail Network is underway, and Miyapur is expected to have two stations, which is expected to boost real estate returns in the coming years.
Employment opportunities abound as Miyapur is 10km away from HiTech City, 18km away from Punjagutta, and 21km from Secunderabad while Gachibowli is half an hour away. Miyapur is currently a residential, commercial, and educational hub that also has plenty of green space like the Ameenpur Lake and small hills nearby where residents can go for long walks.
Property prices in Miyapur currently range between Rs 2,411 per sq.ft. and Rs 3,946 per sq.ft.
Shamshabad
Shamshabad’s biggest claim to fame is the Rajiv Gandhi International Airport, which is located here. Located in South Hyderabad, Shamshabad is well-connected via the National Highway 7, Srisailam Highway, Outer Ring Road, and PVN Expressway. The Shamshabad Bus Stand is within the locality, making it easy to travel to various parts of Hyderabad.
The nearest railway station is the Umdanagar Railway Station located 7km away and one of the biggest railway stations, Deccan Railway Station, is only 25km away.
Shamshabad also offers multiple opportunities for employment due to its location, which is close to HiTech City, which is 30km away. It is also not too far from important areas like Madhapur, Secunderabad, Koti, and Kothaguda. The Medical College International University (Symbiosis International University) and TATA University are close.
The upcoming metro and new IT parks like Fab City, Hardware Park, and Nano Tech Park are adding impetus to investment in Shamshabad, which is mainly known for its independent houses and plots.
Kondapur
Kondapur has become one of the most sought-after suburbs near Hyderabad thanks to its proximity to Gachibowli and HiTech City. Property prices in Kondapur have appreciated as much as 40% over the last few years and it has grown into a major commercial and residential hub today.
Kondapur is connected to the city centre via the Hafeezpet Flyover and the Outer Ring Road, which is just 3km away. The international airport is 33km away, and Lingampally Railway station is the closest to the area at a distance of 4kms.
Kondapur is 4km away from HiTech City, and it is highly accessible from employment hubs like Madhapur, Koti, and Secunderabad.
Property prices here currently range between Rs 3,539 per sq.ft. and Rs 5,108 per sq.ft.