Nanakramguda, favourite for real estate investors

Hyderabad: West of Hyderabad has been the top homebuyer destination since the information technology (IT) boom began in HITEC City. In the western part of the city, the Nanakramguda Financial District is the most popular choice of investors around the world. There is great demand for residential and commercial real estate here.

Surrounded by a large number of IT companies, industrial parks, special economic zones (SEZs) and large office space, this place in the Serlingampally Mandal has been attracting real estate investors for many years. Recent infrastructure developments in the area have continued to drive house prices that are unaffordable for a middle-class homebuyer.

But high net worth individuals (HNIs) and non-resident Indians (NRIs) are looking to invest in the area. The IT professionals, bureaucrats, business people and other elites move here from the congested central parts of the city for a better lifestyle. Another big reason is the presence of hospitals like Care and AIG nearby.

Even the big ones in the Telugu cinema industry prefer Nanakramguda over Film Nagar, Banjara Hills, and Jubilee Hills because it is close to Ramanaidu Studios. The Pan-Indian star Prabhas recently bought two hectares of land to build a spacious guest house. Many other stars are investing in the residential properties here due to the proximity to the filming locations.

“Although the business world lives in the city, they invest heavily here in order to achieve secure returns and rents. Those who invested in 150-200 square meters of real estate for 1.75 billion rupees five years ago recently sold for 4 billion rupees, with individual lots not available for the construction of villas, “said Vykunta Achary Erroju , a retired employee of the Singareni Collieries.

He is looking for real estate for his NRI son who wants to buy a residential unit nearby. Since he could not get an individual plot of land, he looked for a 3BHK apartment in a branded housing project. Since ready-to-move-in 2BHK and 3BHK apartments were sold out in the well-known companies, he booked a 4BHK apartment in a residential complex.

Housing and construction activity is in full swing in all areas around the Nanakramguda Financial District. Gachibowli, Khajaguda, Manikonda, Kokapet, Narsingi, Tellapur, and Kollur are other popular residential destinations. Real estate growth in this region is being driven by the IT industry and high rental values ​​in this district.

Golf Edge Residence, Prestige High Fields, Ashoka Liviano, Mantri Celestia and My Home Avatar are some of the residential complexes in this area. The apartments cost Rs 7,000-7,800 per sft. However, premium apartments in the middle of the IT corridor start at Rs 9,000 per sft. Top equipment, high rental prices and good connections to workplaces led to this price range.

Almost 99 percent of the residential projects are residential complexes with first-class amenities. Recently, the Sumadhura Group and Vasavi Group jointly began construction of the spacious 44-story tower project The Olympus in Nanakramguda. The luxury residential units are being sold at a base price of Rs 7,500.

Madhusudhan G, Chairman of the Sumadhura Group, said: “Despite numerous projects, the demand for housing in the west will remain intact. Nanakramguda has an excellent social infrastructure. Investing in the area is a sure thing.”

“Real estate development is happening all over the western part of the city, especially in areas near the financial district,” says Rajesh M. Kumaraswamy, real estate consultant and former employee of the Anarock Group. “Last year the condominium apartments sold for 6,800 rupees and now they are for 8,500 rupees per sft.”

He further said that land prices in Nankramguda have increased steadily from Rs 2 lakh per square meter to Rs 2.3 lakh per square meter in recent years. In comparison, areas like Mokila and Shankarpally, which are on the outskirts, saw land prices soar from Rs 12,000-15,000 per square meter in the pre-Covid era to rupees 40,000 per square meter now.

“Appreciation will be different in the Nanakramguda region. The large piece of land is available here at a price of no less than 60-65 billion rupees per acre. Only reputable builders who are able to develop high-rise apartments buy the land . ” here to start the construction of at least 40-50 floors “, informed the real estate advisor.

Buyers looking to buy villas are looking for nearby village lots around Kokapet and Kollur. Rents are also gradually rising. The 2BHK rental accommodations are in high demand throughout the region. People who want to take a house for a lower rent go to Gowlidoddy and Gopanpally, where they can get 2 BHK for 16,000-18,000 rupees per month.