Affordable residences in the vicinity of Gachibowli
Professionals working in the IT hubs of Gachibowli can now avail of affordable residential properties in the vicinity. Residential properties are available in areas like Lingampally, Hafeezpet and Madinaguda, in the proximity of the IT hub, within a budget of Rs. 30 lakh. There are various residential options available within this budget and are mostly sought after by low and mid-level IT professionals.
Affordable residences in Lingampally:
Lingampally which is located about 9 km from Gachibowli along the Old Mumbai road, offers many residential options in the budget within Rs.30 lakh. Residential apartments of size between 1000 and 1300 sq.ft are available here in the price range between Rs.2,500 and 3,100 per sq.ft. Considering that there are very few new residential projects coming up in this area, buyers looking for affordable houses can seek the re-sale option.
Affordable residences in Madinaguda:
Madinaguda is another area in the vicinity of the IT hub that offers affordable residential apartments. Located about 11 km from Gachibowli, it offers 2 BHK apartments within a budget of 30 lakh. The size of apartments range between 1000 to 1300 sq.ft. Buyers who are lucky may even be able to find some 3 BHK apartments in this size range. There are many 1 BHK apartments as well of size between 450-600 sq.ft that are available between Rs.15-20 lakh.
Considering that Madinaguda is located in the vicinity of IT hubs, it is mostly occupied by IT professionals. There are many gated community projects as well as open plots that are available in the budget within Rs.30 lakh. Many under-construction projects are available in this budget range by developers like Mythri Enclave, Sai Raghav Constructions and Saudha Infra Projects Pvt Ltd etc.
Madinaguda is well connected to Gachibowli through the Hafeezpet flyover, being just about 10 km away. It is also just about 3 km away from the proposed Miyapur metro railway station. Besides, it is also well connected to the other parts of the city through the MMTS service.
Affordable residences in Hafeezpet :
Hafeezpet is another area in the vicinity of Gachibowli that offers affordable residential property. Located about 11 km from Gachibolwli, this area offers 1 BHK and 2 BHK apartments within the 30 lakh budget. However, compared to Madinaguda, buyers would have to compromise on smaller sized apartments. For instance, apartments in the budget range within 30 lakh will be sized between 800 to 1000 sq.ft.
There are many under-construction apartment projects that fall under this budget range by developers such as Rashmi Housing and Sri Sairam Group. However, it is essential that the credentials of the developer is verified thoroughly before investing in such affordable projects.
