Nallagandla has grown into prominence as the IT/ITeS industry established its operations in Hyderabad and the need for housing of its workforce became imperative. Its strategic proximity to the IT and Finance hubs makes it very desirable to executives and their families alike.
During the real estate boom period from 2006 to 2008, development in Hyderabad was largely concentrated in HITEC City, while Gachibowli, Nallagandla and surrounding areas were still in their emerging stages. However, over the past decade, there has been tremendous growth in these areas. Commercial development was a huge driver of this growth as IT office stock in Hyderabad grew from one million sq ft in 2008 to seven million sq ft in 2014. Also, the road network from HITEC City and Lingampally to Nallagandla has improved tremendously.
There are numerous reasons for the improved interest in Nallagandla, which is located about 8 km from Wipro Junction and 3 km from the University of Hyderabad. Nallagandla has emerged as a key residential destination for employees from the IT campuses in Gachibowli, Nanakramguda and Vattinagulapally, and for those working in the University of Hyderabad. Additionally, Lingampally railway station is in close proximity and can be reached easily from BHEL Township. Nallagandla is located between the Outer Ring Road and Old Mumbai Road, which make it accessible to major areas of Hyderabad, such as Banjara Hills, Gachibowli, BHEL and HITEC City.
Nallagandla also benefits from the social and civic infrastructure in Lingampally and BHEL Township. Connectivity is being further improved by construction of a flyover across the railway station for easy and fast access to Nallagandla. With Gachibowli, Nanakramguda and surrounding locations expected to witness further growth in the IT/ITeS and BFSI segments, demand for residential projects in Nallagandla will increase in the future.
Nallagandla is largely defined by mid-range to luxury gated community apartment developments. Over the past 5 years, these projects have witnessed yearly appreciation of 30-45 per cent. This is a significant increase in prices, given the political instability Hyderabad was facing over the last few years.
Nallagandla is Hyderabad’s new residential destination for the IT industry, preferred by professionals who wish to live in quieter locales away from the bustling traffic and crowds. It is conveniently located, close to the IT hub of HITEC City. In addition to proximity to IT/ITeS hubs, Nallagandla has everything it takes to enhance residential living. The location also has a good rental market. Most developers and investors agree that Nallagandla will continue to show very healthy appreciation.