Categories: AREA PROFILE

25 years, 1000x growth: A ‘Gold Mine’ for early investors

    • Price increase from Rs 750 to Rs 2 lakhs

Manikonda has become a sensation in Hyderabad’s real estate market. It is no exaggeration to say that after Jubilee Hills and Banjara Hills, Manikonda is one of the most in-demand areas. In just 25 years, Manikonda has transformed in ways that are hard to imagine. To put it another way, in the last 10 years, the changes in Manikonda have been so drastic that it is unrecognisable. When real estate development started in Manikonda, the price per square yard was less than a thousand rupees, but now it exceeds 1.5 lakh rupees. As for apartments and villas, the prices are skyrocketing.

Today, Manikonda is one of the major areas in Hyderabad. It ranks alongside Banjara Hills, Jubilee Hills, Madhapur, Gachibowli, and Hi-Tech City as a prime residential location. However, comparing Manikonda from 25 years ago to what it is today, it has changed a thousandfold. Once a village, Manikonda has now become a central area in the city of Hyderabad. Market experts are calling Manikonda a “hot cake” in the Greater City real estate sector. Indeed, it is competing with the premium areas in Hyderabad. Most notably, Manikonda has become a residential area for celebrities. People who once lived in Jubilee Hills and Banjara Hills, including famous figures from the film, political, and business worlds, are now relocating to Manikonda. Particularly, people from the film and television industries are purchasing homes in large numbers in Manikonda. This has significantly increased the demand for properties in the area.

Manikonda benefits from excellent connectivity. It is just 7 kilometres from Jubilee Hills, and only 5 kilometres from Film Nagar. The IT corridor in Gachibowli is only a 10-minute drive away from Manikonda. Additionally, it takes just 15 minutes to reach Manikonda from Mehdipatnam. International schools, engineering colleges, corporate hospitals, large shopping malls, multiplex theatres, and sports academies — everything you need is available in Manikonda. There is an RTC bus service every 15 minutes from Secunderabad and Mehdipatnam.

Furthermore, you can reach the Raidurg Metro Station in just 15 minutes. Notably, Manikonda is only 6 kilometres from the Outer Ring Road. With such excellent connectivity, you can easily travel anywhere without traffic issues.

Exactly 25 years ago, in 1998, the price of a square yard in Manikonda was just Rs 750. The prominent real estate company Muppa developed a real estate venture called Panchavati Colony in Manikonda, where the price per square yard was only Rs 750. Over time, real estate projects gradually began in the area. Slowly, the construction of apartments and independent houses started. The development of Lanco Hills in Manikonda brought the area into the spotlight. This marked the beginning of large-scale apartment constructions, followed by the start of villa constructions. Now, high-rise apartments are also being built in Manikonda.

While 25 years ago, the price per square yard was Rs 750, now the price for properties on the main road is Rs 2 lakh per square yard, and slightly inside the area, the price is around Rs 1.5 lakh per square yard. Ten years ago, the price per square foot in an apartment was Rs 2,500, but now the price ranges from Rs 7,000 to Rs 12,000 per square foot, depending on the project.

There is a huge demand for villas in Manikonda. In response to this, several real estate companies are undertaking large-scale villa constructions in the area. Depending on the location, project, size, and amenities, the prices for each villa range from Rs 7 crore to Rs 20 crore. On the other hand, there is also strong demand for plots in Manikonda, and these are available as well. Along with large apartment projects, there is also an increase in the construction of standalone apartments, which has attracted middle-class families looking to own a home in the area.

For example, flats on the main road and a little further inside are available at prices ranging from Rs 80 lakh to Rs 1 crore. As a result, middle-class individuals are realizing their dream of owning a home in Manikonda. With the continuous development in the area, real estate experts predict that property prices are likely to rise even further in the coming days.

This website uses cookies.