“Time is money” – This is being proved once again with the emergence of the Hyderabad Metro Rail. Only a part of the Metro Rail’s Phase 1 is functional at the moment. Despite that, Hyderabad’s metro has the real estate blooming already. How and why? Let’s find out.
Hyderabad has always been dominated by the IT sector. With the IT companies and MNCs mostly flourishing in the western part of the city, only a few areas saw rapid development in terms of residential and commercial real estate. These areas included Gachibowli, Madhapur, Kondapur, Lingampally, etc. In order to save the time spent in traffic and money wasted on fuel or taxi fares, young professionals have mostly opted to buy or rent a house in or around these areas. Presently, the land prices are comparatively high and are on the rise in these prime locations, making housing a bit unaffordable for the middle class. But ever since December 2017, the real estate scene in the entire city has seen a change.
With the inauguration of the Metro Rail on November 28th, 2017, the connectivity of prime locations within the city has remarkably increased. With the maximum fare of Rs. 60 and zero traffic, you can travel more than 26 Kms and reach far-off destinations in 30 minutes. This time saver and cost-effective advantage of the metro rail is diluting the need for buying or renting a house near your workplace.
Realizing the potential of this advantage, realtors have already come up with apartments and commercial projects at all areas that are at walking distance from different metro rail stations. With the Nagole – Secunderabad route being partially functional, the land price and rents have already seen a rise in areas like Uppal, Begumpet, Secunderabad, Ameerpet, Nagole, etc. The remaining phase 1 of the Metro rail will connect the areas – Nagole to Raidurg, L.B. Nagar to Miyarpur and Jubilee Bus Station to Falaknumna. That is why builders have already initiated construction projects in these areas as well. This means only good news for all who are looking for affordable housing as distance and office location will no more be a matter of worry. People will no more be forced to buy or rent houses beyond their budget just for the sake of living near their workplace. This also means that infrastructural and commercial developments are no more restricted to the IT hubs. Development projects are now more evenly spreading to the northern and eastern parts of the city as well.
If you too are still looking for your dream home, this is the time to make the most of the real estate opportunities before the prices get even higher. To know some of the most credible and lucrative real estate deals visit Aparna Constructions – the leading builders in the city.