Nanakramguda has transformed in a way unseen in 20 years
Prices in Nanakramguda have increased from Rs 1,500 to Rs 2 lakh per square yard
Nanakramguda holds a special place in Hyderabad’s real estate market. After Jubilee Hills and Banjara Hills in Hyderabad, Nanakramguda is one of the most important areas. Once a village, Nanakramguda has undergone an unprecedented transformation in the past 20 years. To be more specific, in the last decade, Nanakramguda has changed so much that it is hardly recognisable. When real estate began in Nanakramguda, the price per square yard was less than Rs 1,000, but now it has increased to Rs 2 lakh, which shows the extent of development. Prices for apartments and villas in Nanakramguda have skyrocketed.
Nanakramguda must be specifically mentioned when talking about the prominent areas of Hyderabad. It now ranks alongside major residential and commercial areas like Jubilee Hills, Banjara Hills, Madhapur, Gachibowli, and Hi-tech City. However, comparing Nanakramguda from 20 years ago to its current form is astonishing. Once a village, Nanakramguda is now the center point of Cyberabad.
Market experts are calling Nanakramguda a “hot cake” in Greater City’s real estate market. Indeed, Nanakramguda is competing with Hyderabad’s premium areas. Once, film, political, and business personalities residing in Jubilee Hills and Banjara Hills are now relocating to the surroundings of Nanakramguda. Nanakramguda, which was once known only for residential areas, has now become a hub for IT and commercial centres, leading to an overwhelming demand.
Nanakramguda is well-connected, which can be considered an advantage. It is especially close to the Outer Ring Road, which is a significant plus point. Being next to the IT Corridor is another benefit. It is only 6 kilometers from Jubilee Hills and can be reached in just 10 minutes from Film Nagar. The IT Corridor in Gachibowli is just a 5-minute drive away, and it takes only 15 minutes from Mehdipatnam.
International schools, engineering colleges, corporate hospitals, large shopping malls, multiplex theatres, and sports academies are all readily available. RTC bus services are available from Kota and Mehdipatnam. The Raidurg Metro Station is just 15 minutes away. With excellent connectivity, there are no traffic issues, making it easy to reach anywhere.
Real estate experts state that 20 years ago, in 2004, the price per square yard in Nanakramguda was only Rs 1,500 to Rs 2,000. With the construction of the Ramanaidu Studio, the Outer Ring Road, and the development of the nearby IT Corridor, Nanakramguda rapidly developed. Real estate projects in the area started gradually, and in particular, the construction of apartments and villas gained momentum over the last decade.
Now, both residential and commercial buildings are being constructed to sky-high standards. The price per square yard, which was Rs 1,500 two decades ago, has now risen to Rs 2 lakh. Ten years ago, the price per square foot for apartments was Rs 3,000, but now the prices range from Rs 8,000 to Rs 12,000 per square foot, depending on the project.
There is a huge demand for villas in Nanakramguda. In line with this demand, several real estate companies are heavily investing in villa construction in the area. Depending on the location, project, size, and amenities, the prices for each villa range from Rs 8 crore to Rs 25 crore. On the other hand, there is also a strong demand for plots of land in Nanakramguda, as these are available for sale.
With the presence of large apartment projects as well as standalone apartment constructions, even middle-class individuals are setting up their own residences in Nanakramguda. Flats in apartments are available starting from Rs 1 crore, just a little off the main road. As a result, middle-class people are choosing Nanakramguda to fulfill their dream of owning a home. Experts in the real estate sector predict that with further development in the coming days, property prices in Nanakramguda are expected to rise even more.
