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Homebuyers shift focus to peripheral areas


Homebuyers shift focus to peripheral areas

Increased infrastructure development and competitive price points in the outlying pockets of Hyderabad have altered the home buying trend in the city. Against the yesteryears popular Gachibowli, Jubilee Hills and Madhapur, the peripheral pockets of Gandipet, Shankarpally and Shadnagar have emerged as the new favourites of investors in the city.According to the Hyderabad’s Registration and Stamps Department, the peripheral areas in the city have witnessed maximum property registrations in 2018-19 vis-à-vis 2017-18. From Rs 5,170 crore in 2017-18 to Rs 6,610 in 2018-19, property revenue grew by almost 28 percent during the last year. While the noted hubs of Jubilee Hills, Gachibowli and Madhapur took the backseat, the fringes of Gandipet, Shankarpally and Shadnagar remained the hot selling pockets of Hyderabad.

Gandipet: 

Abutting the famous Osman Lake, Gandipet in the western peripheries of Hyderabad has witnessed nearly twofold growth in the property tax revenues in 2018-19. Purely a residential pocket, it has mainly benefitted from the spillover demand from saturated areas of Appa Junction, Gachibowli and Langar Houz. According to Rahul Kumar, real estate broker, One Roof Infra, “Investment in Gandipet is driven by advancements in connectivity, ongoing gated community projects, lower pollution level, and booming IT market in proximity. The locality also offers quality living experience and is home to premier social amenities such as education institutions, health care centres, shopping malls and entertainment hubs. Moreover, the competitive capital values pegged between Rs 4,200 per sq ft and Rs 4,800 per sq ft have been an additional striking factor that has drawn investor’s attention to Gandipet.” Most of the IT professionals within the city and Non-Resident Indians (NRIs) anticipating higher capital returns in future have showcased interest in the burgeoning locale.

Shadnagar:

Shadnagar has risen to popularity in the wake of ample land supply. People with an investment horizon of three to four years parked their money in the region given the rising land prices in the area. Currently, the average capital prices in Shadnagar vary between Rs 4,500 per sq ft and Rs 5,000 per sq ft. Most of the investors prefer to buy plots sized at 150-300 sq yards.

Other factors that add to Shadnagar’s investment prospect include proximity to industrial hubs such as Balanagar, Kothur and Kondurg, and the Rajiv Gandhi International Airport. National Highway (NH) 44, the longest roadway that starts from Kashmir and ends in Kanyakumari also passes through Shadnagar. Additionally, the proposed Regional Ring Road (RRR) is also planned to run through the pocket. Once developed, the stretch would have a significant bearing on the land prices in Shadnagar.

Shankarpally:

The R1 zone of Shankarpally remains the one-stop solution for residential investors in the city. Against the other high-rise pockets, Shankarpally is known for its well-crafted villa projects and residential plots, led by agricultural lands and commercial developments, just enough to ensure quality living experience. While the prices of villas here range between Rs 1 crore and Rs 2.5 crore, residential plots are accessible for Rs 20-25 lakh.

Seamless connectivity and public amenities are some additional growth drivers that have added to Shankarpally’s popularity. For instance, it is only 1 km from Mokila and assures hassle-free ride to Gachibowli, Mehdipatnam, Tellapur and Nallagandla via ORR. Besides, the area is within a five km radius from IIT Hyderabad and houses some of the distinguished institutions like Global Indian International School and ICFAI Foundation for higher education.

Overall, continually growing capital prices along with considerable infrastructure development, is expected to heighten the appeal of the locales further. Therefore, those who wish to reap the benefit of highly rewarding real estate in future, then Gandipet, Shankarpally and Shadnagar are some of the ideal locations to consider.