Exploring Hyderabad: Top 5 neighbourhoods!
Throughout the Ukraine-Russia crisis, the Hyderabad housing market remained resilient because to strong base, an increasing business industry, and cheap house loan interest rates. The government-led vaccination programmes, as well as the progressive subsiding of the COVID impact, aided purchasers in continuing site inspections and closing transactions. In Hyderabad, close to 25,250 residential transactions were made in the fiscal year ending September 2022. Clearly, new launches decreased; nevertheless, conversions increased as developers restructured their marketing campaigns and provided varied offers on existing inventory. Kondapur topped the list with about 1,000 house sales, followed by micromarkets such as Nallagandla, Bandlaguda, Hayathnagar, and Alwal. Here’s what made these Hyderabad neighbourhoods so successful.
Hyderabad’s most well-liked neighbourhoods had the most transactions year over year.
- Kondapur
According to insider statistics, Kondapur is the most popular neighbourhood in Hyderabad, with approximately 1,000 transactions completed in a year. Providing a variety of quality housing units, property values in the neighbourhood average approximately Rs 8,400 per sq ft, representing a 20 percent YoY increase. 2- and 3-bedroom units constitute the residential stock in high-rises and multi-story complexes. The presence of major technological companies such as Google, Tech Mahindra, and Accenture, as well as the closeness to the prominent IT centre, HITEC City, have been fuelling the region’s attractiveness (6 km). Furthermore, a slew of impending civic infrastructure enhancements, as well as planned connection via the Hyderabad Metro Phase-2, have improved the region’s real estate possibilities.
Housing societies in Kondapur are owned by developers such as My House Group, Aparna Constructions, and Ramky Estates & Farms, among others. Marvel Fortina, Soucha Marvel, and GK Infra Green Grove are among the RERA-approved recently launched projects, whereas Sreenidhi S Vajram Sri Nivasam, Pinnacle Rabindra Enclave, and Pinnacle Sudhini Enclave are a few of the emerging societies.
- Nallagandla
Nallagandla in West Hyderabad is a high-end neighbourhood, with property values average roughly Rs 8,500 per square foot. Throughout the previous year, there were almost 540 transactions in the region. Among housing societies, Nallagandla has the most inventory of 2 BHK and 3 BHK designs. According to reported ads, a 2 BHK flat in Nallagandla costs between Rs 70 lakh and Rs 1.5 crore, with monthly rentals of around Rs 40,000. The tenancy market in the region thrives mostly because to its closeness to the Mumbai Highway and Outer Ring Road, which provide easy access to numerous IT enterprises in Gachibowli and the Financial District, which are around 7-10 kilometres away.
- Bandlaguda
Bandlaguda, well-known as a satellite city, is a mid-segment locale with plenty of ready-to-move flats and independent houses by city-based builders. Buyers have been interested in the region since it was amalgamated into the Hyderabad Metropolitan Development Authority (HMDA) in 2013. Nevertheless, new projects in the vicinity of the Hyderabad Airport, such as the Express Metro and economic success in Gachibowli (14 km), have worked particularly well for the area.
According to internal data, Bandlaguda experienced around 450 transaction closes year on year. According to recent searches, 2 BHK layouts have been the most popular among purchasers, with costs average around Rs 4,000 per sq ft. In the previous five years, the residential societies in the region have grown by around 20%.
- Hayathnagar
Hayathnagar is located on NH-65 and has good social infrastructure as well as convenient access to the Uppal Industrial Development Region. Former and current renters and owners in the neighbourhood rated it 4.3 out of five on the 99acres Reviews & Ratings Portal. Most reviewers appreciated the area’s connection via ‘well-maintained roads’ and ‘swift access to public transit’. Also, residents appreciated ‘regular police monitoring’ and ‘proximity to markets,’ but parking difficulties loom big.
Hayathnagar had around 420 transactions in a year, with prices averaging around Rs 4,000 per sq foot. The neighbourhood is a combination of residential plots and flats in gated communities. Around 80% of the stock here is 2 BHK dwelling units. The upcoming Mumbai-Hyderabad High-Speed Rail Corridor, which is projected to improve interstate connectivity, is a growth engine for the region.
- Alwal
Alwal is a mid-segment area with around 400 closures in a year with houses priced at roughly Rs 4,400 per sq ft following a 10% yearly increase. More than half of the nearby residential stock consists of two-bedroom units in high-rise flats and detached houses. Bulk developable land tracts are also available. Developers offering residential societies in Alwal include Nestcon Shelters Private Ltd, Oorjita Builders, and Sai Neeraj Constructions. The region will benefit from impending planned projects such as civic renovations and the proposed superspeciality hospital.
Disclaimer: The views expressed above are for informational purposes only based on industry reports and related news stories. PropertyPistol does not guarantee the accuracy, completeness, or reliability of the information and shall not be held responsible for any action taken based on the published information.
