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Where to buy an affordable house in Hyderabad?


Where to buy an affordable house in Hyderabad?

One of the preferred localities in Hyderabad, Miyapur offers affordable properties close to the IT hubs. A budget of Rs 20-60 lakh can fetch you 2 and 3BHK units here.  

Buyers in Hyderabad are gunning for plots and apartments in the city. Ravi Kumar is one of them. “I have some friends living in Miyapur and theysay it is a good locality to reside in. I want to buy an apartment in Miyapur. I have a modest budget of Rs 30-55 lakh. Can you help me with some specifics on the locality?

What you can get?

Kumar can majorly find properties ranging in the budget of Rs 20-40 lakh and Rs 40-60 lakh in the locality. The residential supply stands at 32 per cent for both the budget ranges. About 20 per cent availability is also seen for properties in the budget range of Rs 60 lakh to Rs 1 crore and 11 per cent for properties costing Rs 1 crore and above.

In terms of property type, the locality witnessed maximum availability of 3BHK units at 48 per cent closely followed by 2BHK units at 46 per cent. Availability of 1 and 4BHK category is 1 and 5 per cent, respectively.

To check out in detail what is available in Miyapur,

“Miyapur is one of Hyderabad’s busiest places. LB Nagar in Miyapur is a high-density traffic corridor. It has IT, pharmaceutical, apparel companies and other industrial development areas,”.

Connectivity

Miyapur, a part of the Greater Hyderabad Municipal Corporation (GHMC), is strategically located at NH-9 (Pune-Hyderabad-Machillipatam Highway). The area enjoys proximity to IT hubs such as Hitec City (8 km) and Gachibowli (15 km). The Outer Ring Road (ORR) is also easily accessible from the locality. Buses are run by TSRTC connecting it to all major parts of the city, thus making it the most preferred mode of transportation. “Despite being in the outskirts, the inter-city connectivity is taken care of by the Unified Metropolitan Transportation Authority (UMTA). The closest railway station, Hafeezpet is 3-km from Miyapur”

In addition to the above road and transport facilities, Hyderabad Metro Rail (HMR) is getting ready which will enhance connectivity to the ORR and the international airport.

Affordability

Property prices in the area are 15-20 per cent lower as compared to its neighboring Hitec City. “Miyapur is a preferred destination for IT professionals working in Hitec City and Gachibowli especially those with a tight budget,” says Singh.

The area also sees demand from the adjacent industrial belts of Balapur, Bollaram and Bachupally.

Civic and social infrastructure in Miyapur is also in place. The area has its own police station that ensures safety and security. “The area does not face water and electricity issues,” Schools, ATMs, banks, colleges, hospitals, super markets and restaurants are found in abundance in the locality.