Good quality of living, educational facilities, healthcare facilities and affordable real estate all these factors have made Hyderabad as one of the top cities of India to live in. Realty market in Hyderabad has started picking up pace with the formation of the Telangana Government. Further the growth of IT industry has given a force to the growth of realty sector. Like any other city, Hyderabad has got few challenges as well. But, the government has undertaken several initiatives to offer better and improved lifestyles.
Hyderabad has grown mainly towards the western direction. Many areas of the west like Gachibowli, Kokapet, Madhapur, Chandanagar, HITEC city and Kukatpallly have seen an increased demand of real estate properties because of their proximity to the IT hub and financial district. In addition to that, excellent connectivity, good residential projects at affordable prices and sound infrastructure have contributed to make these places ideal to live in. A sizeable population of the city is migrant, especially the IT professionals. Therefore, rental market is also huge.
Types of houses you may find in Hyderabad
Starting from the premium residential bungalows to the most affordable single room accommodations – the city has it all. Most of the newly constructed projects falling under the western belt are either gated community or individual apartment. The gated communities offer facilities like children play area, swimming pool, gym, super-market, jogging trails, and others. These projects promise round the clock security, power back up and continuous water supply. The biggest benefit of the gated community is the good environment that is created for the children. Firstly children are not forced to live within the apartment. The large common facilities become the areas where they can safely spend their evening time in the company of children from like-minded families. The various sporting and other facilities enable good personality development of the children. The offshoring industry employees mostly prefer to stay in such communities.
The individual apartments though lack round the clock security service and added amenities like park, gym and others; their low price attracts many buyers. Hyderabad is ranked as one of the safest cities in India. So apartments can do without 24 hrs security. Moreover, you will find other amenities like gym, park or markets nearby. So, staying in an individual apartment will not be tough in Hyderabad, especially you are looking to save some money.
There are numerous residential houses located in the central part of the city. Even you may find few of them in western side. If you prefer to stay in a house, there are ample options as well. Jubilee Hills and Banjara Hills are the most posh residential localities in Hyderabad. There is mostly demand for independent bungalows in this region.
Houses are either fully furnished, semi-furnished or without any furniture. You may select a house of your choice. There are options to rent such properties also. However, if you are planning to stay in Hyderabad for long, this is the best time to invest in a real estate project.
Price of the residences
Residential estate prices are yet to reach their peak values in Hyderabad. As so much under construction properties are available in different parts of the city, valuations are attractive. However, increasing numbers of buyers are ready to invest in residences close to the IT sector and financial district. Therefore, days are not far behind when property prices in these regions will be dearer.
Property prices vary between Rs. 2,500 per sqft to 12,000 per sqft. How much will be the value of a property depends upon the location, developers and facilities.