Hyderabad has transformed itself into a global commercial and residential hub. Residential areas in Hyderabad have immense potential for more growth as both developers and investors look to the city. The key drivers of growth for the sector are regulatory reforms including RERA and GST, relaxation in FDI which will encourage more investment, steady demand generated through urbanisation, rising household income and the emergence of affordable housing.
Hyderabad has emerged as one of the best performing residential real estate destinations in India, complimented by strong fundamentals including government stability, infrastructure and economic drivers. The past decade has seen numerous projects being undertaken in the residential space. This further strengthened the market, especially with the focus on luxury and mid-range properties.
Strategic growth corridors will allow Hyderabad’s property market to continue to expand and grow in 2020. Below are a few of the fastest-growing residential areas in Hyderabad.
Nallagandla is a booming residential area in Hyderabad. Over the past few years, Nallagandla has emerged as a key residential destination for employees of IT and Finance campuses in Gachibowli and HITEC City. Nallagandla is a premium destination for residential real estate investment. As more companies set up their headquarters in the nearby IT and Finance hubs, the demand for residential space in Nallagandla is likely to improve.
Kondapur area is a prime suburban residential area in Hyderabad located between Gachibowli and HITEC City in the Cyberabad Information Technology Zone. The area is fast emerging as an important hub for businesses and professionals. Kondapur has undergone massive expansion in the past few years leading to an increase in property demand.
Properties in Kondapur area are highly sought-after residential destinations for professionals working nearby. Located at the nexus of Gachibowli and HITEC City, the area has a well-planned layout of residential and commercial sections. The ease of access to IT and Financial Hubs provided by Kondapur makes it an ideal residential destination for professionals.
Kompally is a developing residential area in the north of Hyderabad. Residential properties in Kompally have become a desirable option in recent years. The affordability of the locality makes it an attractive option for both home buyers and property investors. Several companies are setting up their offices in Kompally, thus attracting people from other parts of the city. From a small village outside Hyderabad characterised by grape vineyards and farm villas, Kompally has transformed from an unnoticed suburb to a prominent residential destination with the best social infrastructure.
A suburb, located in the south of Hyderabad, Shamshabad is becoming a highly sought-after residential location. Srisailam Highway, Srinagar-Kanyakumari Highway and the Nehru Outer Ring Road (ORR) are some connectivity options for Shamshabad to the rest of Hyderabad. Many companies have opened their offices in Shamshabad due to its close proximity to the International Airport. The presence of ORR has made conveyance easy. The social and physical infrastructure is growing at a fast pace and the demand for housing is keeping pace.
Chandanagar is developing as a residential area in close proximity to the IT and Financial hubs. Because of this high potential for growth combined with its affordable housing market, residential real estate in Chandanagar is a strong investment opportunity. Prominent industries like Bharat Heavy Electricals Limited and International Crops Research Institute have their base in Chandanagar.