Ultra-premium apartments in Hyd

Yes, the construction trend in Hyderabad is changing day by day. Currently, the construction of ultra-premium gated communities is gaining momentum in the Greater City. Builders are constructing these communities with unprecedented luxury amenities, catering to the demands of buyers.

Twenty years ago, apartments were seen as a surprise by many. Gradually, apartments gave way to gated communities. In Hyderabad, gated communities range from 1,000 flats to 3,000 flats. However, the people of Hyderabad are asking for more. Against this backdrop, the trend of ultra-premium communities has begun in Hyderabad, based on the preferences of homebuyers. Primarily, in the western part of Hyderabad, in areas surrounding the IT hub, ultra-premium projects are being constructed on a large scale. Already, one or two construction companies have built such luxury apartments, and around 20 more ultra-premium projects are under construction.

Ultra-premium flats are being built with a minimum area of 5,000 square feet each. In some cases, these flats range from 10,000 to 16,000 square feet. In Kokapet, where the price of an acre has reached Rs 100 crores, a large number of apartments are being constructed in this style. Along with Kokapet, well-known construction companies have also started building ultra-premium apartments in areas like Narsingi, Gandipet, and Nanakramguda in the IT corridor. People already residing in apartments with areas ranging from 2,000 to 3,000 square feet are now looking for more luxurious homes to meet their family needs. Until now, these people were mostly inclined towards villas. However, since villas usually require moving further away from the city, they are now turning towards ultra-premium apartments that offer villa-like amenities within the city.

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In Hyderabad, the prices of ultra-premium apartments have surpassed those of villas. The cost per square foot in ultra-premium projects ranges from Rs 12,000 to Rs 20,000. This means that a 5,000 square foot apartment is priced between Rs 6 crore and Rs 10 crore. Similarly, a 15,000 square foot apartment is priced anywhere between Rs 18 crore and Rs 25 crore. Builders say that these ultra-premium apartments are being purchased by political and film industry celebrities, businesspeople, high-level employees from IT, pharma, and banking sectors, doctors, and NRIs.

According to real estate sources, some buyers are purchasing ultra-premium apartments to live in spacious residences, while others are buying them as investments. Buyers are attracted to these apartments due to factors like security, greenery, luxury amenities, healthcare facilities, and spiritual activities. Furthermore, living in such apartments is considered prestigious within the society. In the IT corridor, the rents for these projects are also high, prompting IT companies to book flats as per their needs. With a strong market demand, major construction firms are showing enthusiasm for building ultra-premium apartments. These apartments are being designed and constructed by international architects, with heights ranging from 40 to as many as 58 floors.