In 2016, the price per sq ft was Rs 3,600-4,000.
In 2024, it is Rs 10,000.
Poppalaguda, a rapidly developing area in the western part of Greater Hyderabad, has transformed significantly. Exactly 20 years ago, Poppalaguda was just a village panchayat, but now it has changed beyond recognition. It has developed so much that it is almost unrecognizable. Becoming a central hub for residential and commercial centers, Poppalaguda has become a hot spot in Hyderabad’s real estate market.
Twenty years ago, Poppalaguda was a village panchayat, but now it is part of the Manikonda Municipality. After areas like Hi-Tech City, Madhapur, Gachibowli, Kokapet, Nanakramguda, and Manikonda in West Hyderabad, Poppalaguda has developed rapidly at a similar level. Currently, Poppalaguda has become a central hub for luxury residential properties. Comparing the present-day Poppalaguda with its past shows a remarkable transformation. In 2004, the price per square yard in Poppalaguda was Rs 2,000, but now it ranges from Rs 1.5 lakh to Rs 2 lakh for commercial spaces. In terms of land, in 2004, the price per acre was Rs 1 crore, whereas now it ranges from Rs 80 crore to Rs 90 crore per acre.
There is a rapid construction of residential and commercial buildings in Poppalaguda. The area’s proximity to the Outer Ring Road has played a key role in its development. The Financial District on one side, Hi-Tech City on the other, and the close proximity to Manikonda and Gachibowli have contributed to the rapid growth of Poppalaguda. With easy access to the IT hub in just a few minutes, many people are opting for Poppalaguda as their residential choice. In 2016, when MyHome Construction launched a massive gated community called MyHome Avatar, it caught everyone’s attention, sparking further development in the area. Since then, construction companies have started numerous projects in Poppalaguda. Currently, well-known construction companies like Rajapushpa, Vasavi, Meenakshi, SAS, and Sumadhura have residential and commercial projects underway. In addition, over 20 builders are constructing large apartments in the area.
In 2010, a triple bedroom flat in MyHome Avatar at Poppalaguda was available for Rs 60 lakhs, which means the cost per square foot was around Rs 4,000. Now, the price per square foot is being quoted between Rs 10,000 to Rs 24,000, depending on the project and construction. This means that the price of a flat in the apartment ranges from Rs 1.8 crore to Rs 16 crore. Some flats, with a vast area of 16,000 square feet, are priced over Rs 20 crore. As for villas, the rates range from Rs 12 crore to Rs 25 crore.
