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Right time to invest in Hyderabad’s affordable areas


Right time to invest in Hyderabad’s affordable areas

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Lifestyle is a serious choice. The most actively transacted properties in Hyderabad are the ones that command anywhere between Rs 3,000-4,000 per sq ft. However, with conveniences comes a higher price tag. The more you ask for, the more you pay.

Hyderabad, a very price sensitive market, is often termed as the most affordable market in the country. The city makes sure that there is a home for every budget segment. The good part is, even the localities in the fringes are set for a new high.

Not long back, Uppal featured for the first time in the list of top localities. With increasing number of investments in the area and with functional offices of some global firms, Uppal gained a foot among young buyers willing to invest. Improving infrastructure such as the metro, would add to the location value of this developing locality.

Today, if you are considering Uppal, you would have to spend anywhere between  2,000-3,000 per sq ft. This means a house in the below Rs 30 lakh budget is a possibility here.

The 2BHK configuration is most common and is available in sizes varying from 850-1100 sq ft. Residential houses are mostly preferred. One can find a unit as small as 1000 sq ft to as large as 4000 sq ft within a range of Rs 25-60 lakh. Options are also available for those looking at long term investment. Plots are available for Rs 7-15 lakh in various sizes ranging from 150-350 sq yard.

Kompally, still early in the development cycle with respect to infrastructure, still finds favour among the budget conscious buyers.

“The average prices in the city are nominal and because of political turmoil in the recent past, prices haven’t moved up a lot. However, places like Kompally garner interest because of the availability of good projects within a very reasonable range,” says Kanchan Kanthikumar of House4U. As per Magicbricks, the projected appreciation is reasonable but maintains an upward trend which is a good sign. Moreover, the green lung spaces is a value add. Most households depend on bore-wells for water.

The broad range of property prices is 2,200-3,600 per sq ft., depending upon the configuration, amenities, location and maintenance of the house or the brand of the developer. A gated community villa will cost close to 4,500 per sq ft.

Open plots too are available and cost anywhere between 15,000-30,000 per sq yard, depending on the proximity to the main road.

Appa Junction gives you the option of fishing for luxury and affordable properties. However, a common concern among residents here is the absence of civic facilities.

Karuna Dhar, a resident says, “Absence of street lights makes it very difficult for commuters. Accidents are very common but the authorities seem to be lax about it.” A local developer informs that the radial road between Langar Houz and Appa Junction needs a facelift with almost half of the stretch, under the gram panchayat, still asking for repairs. This pace of development has led to difficulty in pitching projects to consumers.

Nevertheless, buyers are still looking at the locality for a purchase thanks to rational prices within 3,500 per sq ft. A 1, 2 or 3BHK unit or a spacious villa, take your pick, the mix of properties is interesting. Depending on your budget, the area offers homes starting from Rs 25 lakh to over Rs 2 crore.

The buoyancy in real estate in Hitec City and Madhapur is because of the IT/ITeS employed professionals. Prabhu Ganesan of Prime Realty says, “In Hyderabad, west is always considered the best. This is especially because of the evolved infrastructure, proximity to work places, resulting in an enhanced commercial experience because entertainment zones, hangouts, various eateries, office spaces and housing have come up here as well.”

Local realtors tell us that a major proportion of the migrant populace prefers West Hyderabad over other areas.

Vipin Ravindran, property consultant at Lekshmilok Properties says, “Young buyers prefer the job centres Gachibowli, Miyapur, Kondapur and Madhapur. Even though the metro is coming up in areas such as Nagole, Uppal, Habsiguda, Tarnaka and Mettuguda, you would see buyers preferring the central location for the feel of it.”

As per projected values in the graph, values may not fall. Hence, an investment at this time would not be a decision you would regret. As of now, prices are in the range of 4,000-5,000 per sq ft depending upon the exact location and amenities.

Do go in for a thorough research before investing. Speculations often turn out to be disappointing.

Sneha Sharon Mammen, Times Property, Magicbricks Bureau/ Hyderabad