Bachupally in Hyderabad witnesses high appreciation in property values
Bachupally is fast emerging as a prominent residential destination in Hyderabad. Located about 25 km from the heart of the city, along its northern suburb, the area is in demand among buyers for its availability of affordable housing options. Its proximity to other renowned areas in the locality like Miyapur and Kukatpally has also enhanced the demand for residential accommodation here. Besides, its connectivity across the city as well as its infrastructure facilities have also upped its appeal among both end users as well as investors. This has led to an appreciation in property values in the area.
Connectivity
Bachupally is well connected to the heart of the city through the Nizampet Road which joins Mumbai Highway (NH-9) at Kukatpally. The highway runs further south, criss-crossing the Outer Ring Road (ORR) at Pedda Amberpet, and exiting the city. Hence, it provides good connectivity to all areas in the vicinity of the highway. Further, it borders the ORR on the northern periphery of the city, thereby facilitating overall connectivity across the city. APSRTC buses ply through the fringes of Bachupally connecting it with other areas across the city and beyond. The nearest railway station from the area is the Hafeezpet railway station which is about 10 km away along the Bachupally Road, while the city railway station is about 23 km away along the Mumbai highway. The Rajiv Gandhi International airport at Shamshabad is about 45 km away along the ORR. Besides, the proposed metro station at Miyapur which is about 7 km away will further enhance the connectivity of Bachupally across the city.
Infrastructure
Considering that Bachupally is located along the city’s periphery, there are large parcels of vacant land in the area which presents excellent potential for future development. However, there are many infrastructure developments here which has also contributed towards investors and buyers preferring the area for purchasing residential property. Some of the reputed schools in the area are Oakridge International School, Ambitus World School and Geetanjali School, among others. There are also many prominent colleges in the area like DRK College of Engineering and Technology, Sri Chaitanya Junior College and CMS Commerce Junior College, among others. Dr.Reddy’s Laboratories is a renowned health-care center in Bachupally. Moreover, there are many other important facilities like religious institutions, banks, shopping centers, restaurants, parks and water bodies in the area, among others.
Realty Scenario and Developers
Due to the presence of vast expanses of developable land available, developers are embarking on many residential projects, both villa and apartment. Even though there are a large number of completed as well as upcoming apartment projects here, what is remarkable is the number of villa projects that are coming up here in recent times. This is primarily due to the availability of developable land here. Since these projects are being sold at affordable rates, they are being lapped up by end users as well as buyers looking at purchasing property from an investment point of view. Besides, there are also many residential plots, both large and small that are available for sale.
Some of the prominent completed apartment projects here are Prime Meadows Apartments by Prime Constructions, Amsri Orchid by Amsri Builders and Lakshmi Classic by Lakshmi Infratech India, among others. There are also many renowned ongoing apartment projects that include Indu City by Indu Homes, Modi Edifice by Modi Builders and Royal Residency by RL Constructions.
Among the villa projects here, some of the completed projects include Hi-Rise Meadows by Hi Rise Housing Projects, Praneeth Spring Woods by Praneeth Developers and Maa Villas by Sri Bhavana Creators, among others. There are also many upcoming villas projects that include Praneeth Pranav Valley by Praneeth Developers, Sri Manvitha Apple Homes by Sri Manvitha Builders and Developers and SRR Pride by SRR Properties India, among others.
Price Trends
Bachupally has witnessed a steady appreciation in capital values since the last couple of years. As per CommonFloor data, the property rates which were about Rs 2,061 per sq. ft. at the start of Q1, 2013 appreciated steadily in subsequent quarters to reach Rs 2,291 per sq. ft. at the beginning of Q1 2014. The last two quarters also saw considerable appreciation in rates, with the rate reaching Rs 2,407 at the end of Q1 2014 and Rs 2,665 per sq. ft. at the end of Q2 2014. The rate of appreciation in the last quarter compared to one before that was a whopping 15 per cent.
Future Prospects
Bachupally is expected to witness considerable growth in realty in the years to come. With the availability of large parcels of developable land, many prominent residential projects are expected to come up in future. Due to the affordability factor, demand is also expected to be high. However, future property prices in the area will depend to a large extend on the infrastructure development expected here. With the area offering excellent connectivity across the city, infrastructure development is expected to give the area a major fillip. Investors of plotted land as well as residential property can expect healthy returns in future at the rate at which property values are appreciating here.
