Over the past decade, Nallagandla has emerged as a key residential destination for employees of IT and Finance campuses in Gachibowli and HITEC City. Discerning professionals would be exposed to the latest international trends in the housing industry and would inevitably demand the same standards in Hyderabad. Luxury apartments in Nallangandla would require amenities including a world-class cafeteria, health and fitness centre, swimming pool, jogging paths, and a creche.
Nallagandla is the latest beacon of connected living in Hyderabad. Its strategic proximity to the IT and Finance hubs makes it most desirable to executives and their families alike. Its emergence as a residential hub makes Nallagandla one of the best choices for investing in the second luxury apartment.
Reasons for buying a second home vary. These reasons include convenience, recreation, investment, development and retirement planning. Irrespective of the reason, it is very important to make sure your second luxury apartment fulfils certain guidelines before making a commitment.
Before investing in a second home, it is important to weigh in all factors such as market conditions and growth potential.
Nallagandla is located between the Outer Ring Road and Old Mumbai Road which makes it accessible to major areas of Hyderabad, such as Banjara Hills, Gachibowli, BHEL and HITEC City. Connectivity has improved with the flyover across the railway station. Further infrastructure improvements are also in the pipeline with upcoming plans for new growth corridors along the Outer Ring Road. This development will further boost prices in all the adjacent areas including Nallagandla.
Nallagandla is a premium destination for residential real estate investment and is likely to yield good results. As more global tech titans such as Apple and Google set up their headquarters in close proximity, the demand for real estate is likely to grow.
Once you have factored in all market aspects and see them as favourable to invest in a second home, you need to work on finding a luxury apartment which fits all your requirements. All luxury properties are not built the same. The building should be well maintained and in good condition. Investing in a luxury apartment in a gated community has an added advantage of property maintenance, a wider range of amenities and security.
When investing in any property, it is important to do exhaustive research on the locality. This matters more so for a luxury property. Nallagandla benefits from the social and civic infrastructure in Lingampally and BHEL Township. Nallagandla has numerous options for restaurants, grocery stores and entertainment as they are as important as the property itself.
Consider property taxes, utilities, homeowner’s association fees and other applicable expenses. Tax implications for second homes can vary significantly based on whether or not you plan to rent out the property. Keep these in mind when figuring the impact on your taxes. Generally, the interest on the mortgage of your second home is tax deductible. However, rental properties are subject to additional tax breaks. Compare expenses such as utilities, repairs and management fees against the income you are expecting from rent. As more companies set up their headquarters in the nearby IT and Finance hubs, the demand for residential space in Nallagandla for rent is likely to improve.