Where To Look For Property In Hyderabad?

Where To Look For Property In Hyderabad?

Where To Look For Property In Hyderabad?
(Dreamstime)

During the period when rates of property across the country largely remained stagnant, the property market in the City of Nizams stood alone, held the fort and saved the day for real estate developers. Data available with PropTiger.com show rates of property in the city increased four per cent in the second quarter of the financial year on a yearly basis. Considering the demand for property in the Andhra capital never subdued, which are the areas where the demand for property has been rising? Let us have a look.

Demand drivers

Kukatpalli: Based on the buyers' searches posted on Makaan.com, Kukatpalli is the clear winner when it comes to demand for property, thanks to its proximity to the Hitec City. This sharp rise in demand is reflected in the price pattern, too. For a square foot of space, you have to pay an average Rs 5,350 while the average rate of property in Hyderabad is Rs 4,000. Kukatpalli, with its 8.8 score on a scale of 10, is quite popular among renters, too, the high rents notwithstanding. This is the third most-searched locality among people looking for rented accommodations in Hyderabad. For a semi-furnished 2BHK rented flat here, you have to pay an average monthly rent of Rs 25,500.

When you examine the listings, however, the locality is nowhere to be found in the top-10 list.

Miyanpur: After Kukatpalli, buyers in Hyderabad are looking for property at Miyanpur. Property in this area, which houses industries too and offers buyers easy connectivity with the remaining city, is more affordable when compared to Kukatpalli—average rate of property at Miyanpur is Rs 4,000 per square foot (psf).  In case you want to rent a place here, you would also find a remarkable difference in rates when compared to Kukatpalli. For an average Rs 15,000 a month, you can rent a unit of similar configuration and furnishing in Miyanpur. This is precisely why Miyanpur happens to be the sixth most-searched locality among Hyderabad renters. Miyanpur, with its livability score of 8.1, is also among the localities where finding a property would not be as tough—in terms of property listings, this locality occupies the eight spot in the list of top 10.

Manikonda: Highrises offering only the best of the lot in this locality which has a livability score of 8.3. Owing to the demand of luxury spaces in this locality, rate of property in this locality are slightly higher than the Hyderabad average. Currently, a buyer has to spend Rs 4,600 psf to buy property here. In terms of property listings, this locality, which is quite a hit among the city's young-working population, stands at the 11th spot. Demand for rented spaces at Manikonda is equally high, too—this is the fifth most-searched area for renting a home in Hyderabad. Coincidentally, when it comes to the supply of rented spaces, the locality stands at the 11th spot. In case you rent a home in this locality, be ready to pay a monthly rent of Rs 27,700.

Now, let us look at other localities and the price trend where the demand is concentrated:

Locality

Livability scoreAverage rate psf (in Rs)
Kompally7.83,600
BeeramgundaNA2,800
Kondapur8.24,300
Chandanagar8.33,900
Gachibowli8.34,500
Bachupally6.93,000
Nizampet   82,850

Source: Makaan.com

Biggest suppliers

Bhanur: In case you are looking for property, Bhanur happens to be the biggest supplier—the highest number of property listings on Makaan.com is from this locality which has a livability score of 6.  An emerging area, Bhanur offers you property at rates which are much lower when compared with the city average. The average rate of property at Bhanur is Rs 900. You can buy a 2BHK in this locality between a price range of Rs 35 lakh and Rs 45 lakh. A 3BHK unit, on the other hand, would cost you as much as Rs 78 lakh, depending on the developer brand, construction quality, amenities and age of the structure.

Tellapur: This area's closeness to certain key areas, including Ganchobowli, of the city has helped it grow prominence. To cash on in this opportunity, investors have been putting their money heavily in this area, hence the easy availability of residences. This has resulted in rates of property growing—average rate of property at Tellapur is Rs 4,300 while the livability score of the area is 6.6. For a 2BHK, you may have to pay as much as Rs 65 lakh while a 3BHK may cost you as much as Rs 90 lakh. In case you would rather rent, be ready to pay Rs 28,000 monthly.

Kondapur: This well-planned scores high on civic aesthetics and livability score (8.2), too.  And, this is the area which offers you the third highest property listings also. The average rate of property in this area is Rs 4,200 psf while monthly rent may go as high as Rs 20,000. While a 2BHK in this locality can come for Rs 42 lakh, you may have to pay in multiple crores to buy a plush 3BHK home in this well-established locality.

Now, let us look at other localities and the price trend where the demand is concentrated:

LocalityLivability scoreAverage rate psf (in Rs)
Kondapur8.24,300
Adibatla6.11,000
Mokila NA778
Gachibowli8.34,500
Miyanpur8.14,000
Shadnagar5.3550
Kollur VillageNA1,200

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