Where should one consider buying a flat in Hyderabad, considering the current economic recession and the fact that it is an election year? Which areas in the city are experiencing rapid construction growth? Which companies are involved in building apartments? What factors should be considered by those looking to invest in flats?
Typically, there are three main types of individuals who purchase houses in the real estate sector. The first category consists of those who buy houses for permanent residency, seeking to establish a permanent address in Hyderabad to live happily with their families. These individuals often prioritize proximity to their workplaces or their children’s schools. In cases where both spouses are employed, they tend to choose a house near the city centre, even if it means spending a little extra money. For instance, areas like Yerragadda, Kukatpally, Miyapur, and Chandanagar in Hyderabad are preferred by such individuals.
In East Hyderabad, areas such as LB Nagar, Nagole, Vanasthalipuram, Uppal, and Boduppal are favoured. Moving towards North Hyderabad, areas like Bowenpally and Kompally attract interest. Individuals desiring proximity to South Hyderabad often purchase flats in Attapur, Rajendranagar, Shamshabad, and the surrounding areas. Those seeking to be close to the IT Corridor often show interest in residing in areas like Madhapur, Kondapur, Gachibowli, Nanakramguda, Financial District, Kokapet, Narsingi, Manchirevula, Gopanapally, Nalagandla, and Tellapur.
In terms of pricing, except for West Hyderabad, gated communities in other areas generally have a minimum cost of Rs one crore for a two-bedroom flat and around Rs 1.50 crores for a three-bedroom flat. Flats in standalone apartments in these areas are in the price range of Rs 75 lakh to Rs 90 lakh, depending on the location. The minimum expenditure to own a three-bedroom flat would be at least Rs one crore. In West Hyderabad, a two-bedroom flat in a gated community costs at least Rs 1.50 crores, while a three-bedroom flat in the same locality can cost up to Rs two crores.
For example, in East Hyderabad, Vasavi Group is currently constructing Vasavi Ananda Nilayam near LB Nagar Metro and Crown East near Uppal Metro Railway Station. Additionally, Raheja Vistas’ Elite Tower and Ramky One Gennext Towers have already begun construction. In South Hyderabad, there is a surge in apartment construction in Attapur, Shamshabad, Santosh Nagar, and Rajendra Nagar. Theme Ambience Group is constructing Theme Imperial at Attapur, Namishree Infra is developing BPS Twin Towers in Santosh Nagar, and many others are undertaking apartment projects in Rajendranagar and surrounding areas.
North Hyderabad is witnessing the construction of several apartments in locations such as Balanagar, Quthbullapur, Medchal, and Alwal. There is a spurt in constructions in North-Western Hyderabad including Patancheru, and Beeramguda. Ramky Group is building two-bedroom flats in Balanagar priced at Rs 45 lakhs. Modi Green Wood Residency and Nestcon Oasis are coming up in Alwal. Kompally is seeing the development of Manbhum Home Tree, Beccan Lifestyle, Vista Happy Living, and High Vision Heights among others. Ramky One Symphony and Incor One City are under construction on Patancheru main road.
In West Hyderabad, SMR Vinay Iconia offers two, three, and four-bedroom flats, while in Puppalguda, Pradeep Constructions in collaboration with Raghuram Group is developing a project called ‘Vue.’ Numerous other projects are available, such as Vasavi Atlantis in Narsingi along with Rajapushpa Provincia and Vasavi Urban One. Poulomi Avante, Sri Srinivasa Constructions Fortune Sontalia Sky Villas, and Rajapuspa Prestina are among the projects coming up in Kokapet. Poulomi Avante is expected to deliver flats to buyers within the next five months.
Those seeking permanent residence in Hyderabad can consider booking flats in any of these gated communities. For those looking for ready-to-occupy options, projects like Poulomi Avante in Kokapet and SMR Vinay Iconia in Kondapur are viable choices. However, there are numerous options available for those willing to wait a year or two.
If you’re interested in purchasing a flat as an investment, it’s advisable to opt for newly launched projects with RERA approval. Some attractive options include Rajapushra Prestina in Kokapet, Vasavi Atlantis in Narsingi, Vasavi Ananda Nilayam near LB Nagar Metro, My Home Vipina in Tellapur, Candier Twins and Vertex Viraat in Miyapur. It is crucial to purchase only RERA-approved projects as they protect in the event of builder defaults. Buying flats at lower prices from unfamiliar companies may result in financial loss.
Additionally, it is wise to invest in areas with potential for future development, such as those with good infrastructure. Some promising areas include Manchirevula, Kollur, Osman Nagar, Velimala, Mallampet, Beeramguda, Hayathnagar, BN Reddy Nagar, Attapur, and Shamshabad. Even in areas with good infrastructure, it is essential to select a developer with a solid track record and RERA approval to minimise project-related risks.
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