Over the past decade, Nallagandla has grown into prominence as an IT hub and residential destination. As the IT/ITeS industry established its operations in Hyderabad, the need for housing its workforce became imperative. Thus, Nallagandla’s strategic proximity to the commercial centres made it very desirable to executives and their families alike.
During Hyderabad’s real estate boom period from 2006 to 2008, development in Hyderabad was largely concentrated in HITEC City, while Nallagandla and surrounding areas were still in their emerging stages. However, the years since then have witnessed tremendous growth in the area. Commercial development was a huge driver of this growth as IT office stock in Hyderabad grew from one million sq. ft. in 2008 to over 60 million sq ft in 2020. In addition to this, both social infrastructure and connectivity surrounding Nallagandla have improved tremendously.
There are numerous reasons for the growing 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’s strategic location between the Outer Ring Road and Old Mumbai Road makes it accessible to major areas of Hyderabad including 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 the 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 the area will increase in the future. Nallagandla also has numerous options for restaurants, grocery stores and entertainment. A wide choice of schools, colleges, banks, hospitals, malls and multiplexes are all just a short drive away.
Numerous infrastructure improvements are in the pipeline for Nallagandla with upcoming plans for new growth corridors along the Outer Ring Road. As the social infrastructure along these growth corridors continues to develop, it will further boost prices in all adjacent areas around Nallagandla.
Nallagandla is largely characterised by an abundance of mid-range to luxury gated community apartment projects starting from approximately Rs. 7000 per sq. ft. with the most popular configuration being 3 BHK. Over the past 5 years, these projects have witnessed price appreciation of 30-50 percent. In light of the COVID-19 pandemic, home buyers are willing to invest more in open spaces and amenities while also demanding greater value – especially as working from home becomes the norm.
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 and has everything it takes to enhance residential living.
Nallagandla offers affordability without compromising on connectivity and amenities. Its strategic location allows the property market to expand without resulting in rapidly surging prices. Both developers and investors agree that Nallagandla will continue to show very healthy appreciation.