Affordability coupled with other benefits makes Hafeezpet ideal for living

Hafeezpet, which is located 21 km west of Hyderabad, is fast turning into a promising realty destination. A flurry of positive factors have influenced buyer preference to this area. Some of the clinching factors as far as this area is concerned are its proximity to IT hubs, good infrastructural facilities and excellent connectivity.

Proximity to IT hubs:

Besides being strategically located adjacent to the Gachibowli- Miyapur road, it is also renowned for its proximity to IT hubs like Hitech city, Gachibowli and Kondapur. It is just 6 km from Hitech city, 8 km from Kondapur and 14 km from Gachibowli, making it an ideal residential destination for IT professionals working in these areas.

Connectivity and transportation:

Connectivity is another important advantage that this area can boast of, with it bordering the Mumbai highway. Transportation is also easily available through the Mumbai highway, with APSRTC buses and MMTS trains being the prime modes of transport connecting Hafeezpet with other areas of the city. It is also just 2 km away from the proposed Miyapur metro railway station.

Comparatively low prices:

Multi-storey apartments are the main type of residential property available in the area.  Apartments between 1000-1500 sq ft are available in the range of Rs.3,300-3,800 per sq ft. Going by these figures, a 1000-sq ft apartment would cost approximately Rs.35 lakh. The average price range for apartments is between Rs.30-80 lakh, with units available in lower and higher values as well, based on the features and amenities provided.

Quality infrastructure with amenities galore:

Hafeezpet can also boast of good social and physical infrastructure, which has influenced the realty market of the area to a large extend. There are a number of reputed schools and colleges, well-known hospitals, quality restaurants, classy shopping areas as well as marvelous entertainment zones that dot the landscape of Hafeezpet.

Lower capital and rental values:

The current average price of residential apartments in Hafeezpet is about Rs.3,500 per sq ft, with the area seeing a depreciation in capital values in recent times. Compared to other neighbouring areas like Hitech city and Gachibowli, capital values in Hafeezpet are considerably lower, which makes it a good buy, due to its proximity to those areas. Rental values in Hafeezpet are also in the affordable range, with a 2 BHK apartment available for Rs.8,000-12,000 per month, and a 3 BHK apartment for Rs.10,000-15,000 per month.

Investors and buyers to benefit:

With all the advantages that the area offers, all within an affordable price range, Hafeezpet is set to witness a surge in realty activity. Hence, from the point of view of an investor or buyer, it would be an ideal time to invest in residential property in this area, considering the benefits and the future potential that the area offers.