Top 5 Hyderabad investment locations
Commercial space absorption has had a knock-on impact on residential real estate, with a lot of professionals investing in Hyderabad. We examine the best areas to invest in as well as the price changes in the Hyderabad market.
Hyderabad is one of India’s major job centers. In 2016, there were 250 publicly traded businesses in Hyderabad. The demand for housing is always increasing as a result of the migration of professionals. According to Housing.com statistics, the top neighbourhoods for house purchasers include Gachibowli, Manikonda, Kukatpally, Miyapur, Bachupally, Kompally, Kondapur, Dammaiguda, Chandanagar, and Nizampet. Except for new and developing areas such as Dammaiguda, all other areas have seen significant price increases. While prices have been steadily rising, they have remained constant enough to prevent upsetting one’s finances. This shows that the city’s real estate market is robust and has enough velocity to overcome any capital value depreciation.
Hyderabad’s key housing demand drivers
Hyderabad emerged as the leading city in terms of new residential launches between January and September 2020. Furthermore, it has the shortest inventory overhang of 25 months among the country’s eight top real estate markets.
What factors contribute to the ongoing desire for these areas? One of the main reasons is that they are close to employment markets. “Proximity to my employment was the most important reason why I picked this area,” says MitaKarunya, a 32-year-old property buyer in Nizampet. Hyderabad is a promising city, and after a lengthy time of indecision, I have finally decided to invest this year. Certain concerns, such as water supply, must be investigated, but the city, on the whole, is full with chances for the young.”
Commercial distribution and absorption are other important factors. When compared to the top markets, Hyderabad topped the chart in net absorption and new completions, achieving a 36 percent and 44 percent market share, respectively, in the quarter ending September 2020, according to data. In this aspect, Bengaluru and Delhi-NCR trail Hyderabad.
Recent developments in Hyderabad’s top five neighbourhoods
The Greater Hyderabad Municipal Corporation (GHMC) is considering resurfacing existing roadways that lie beneath electricity wires. The widening of these roadways will undoubtedly help to reduce traffic congestion. This would also have a beneficial influence on the area’s housing prices.
Meanwhile, due to legal issues, the building of three key connecting roads in Manikonda has been halted. The roads from Alkapur Township to Langar Houz, Lanco Hills Route No 8 to ORR, and Radial Road No 5 from Shaikpet to Kokapet, which were projected in May 2020, have yet to be completed, while the road from Alkapur Township to Langar Houz is 80 percent finished.
Electric vehicles may now be charged for free at the Kukatpally metro station. Kukatpally is also planning smart parking facilities. The similar system was recently installed at Begumpet metro station.
The Hyderabad Metropolitan Development Authority (HMDA) projected a November 2020 completion date for the Balanagar flyover. Once finished, it would improve traffic flow on the Balanagar Main Road, traversing the Narsapur and Fatehnagar ‘T’ intersections, as well as alleviate traffic congestion in the Kukatpally and Quthbullapur districts. This construction is anticipated to improve the livability of these neighbourhoods while also reducing commuter travel time.
The 1.13-kilometer-long flyover connecting Balanagar and Narsapur X Roads will open to the public in the second week of July 2021. The Hyderabad Metropolitan Development Authority constructed this project at a cost of Rs 387 crores as part of the Strategic Road Development Plan. It comprises a land acquisition expenditure of Rs 265 crores and a civil works budget of Rs 122 crores.
The Telangana State Road Transport Corporation has launched four new luxury buses in the IT corridor, connecting Kukatpally and Hitec City through Gachibowli, to enhance public transportation. While this is helpful, commuters have been asking for more.
Miyapur, like Kukatpally, is expected to feature a smart parking system that gives real-time information on parking facilities for two and four-wheelers via a mobile app. It is believed that this would address municipal issues such as unlawful parking in and near popular stations like Manikonda.
Over the next five years, it is expected that 70 million square feet of office space would be built in Hyderabad’s western suburbs. Bachupally, a developing area, will benefit from this, and a number of residential launches have already occurred. The government is now preparing to develop social infrastructure in order to accommodate this increased population in due course.
Disclaimer: The views expressed above are for informational purposes only based on industry reports and related news stories. PropertyPistol does not guarantee the accuracy, completeness, or reliability of the information and shall not be held responsible for any action taken based on the published information.