Chanda Nagar, Hyderabad sees high appreciation in capital values
Chanda Nagar, located about 25 km north-west of the heart of Hyderabad along the Mumbai Highway, has witnessed steep appreciation in residential capital values in the last couple of quarters, particularly in the last quarter. The area has seen considerable demand for residential accommodation in recent years. This can be attributed to various factors including availability of affordable housing, good connectivity as well as infrastructure facilities.
According to CommonFloor data, the average property values in Chanda Nagar at the end of Q2 2014 was about Rs 3425 per sq. ft. While in the corresponding quarter in 2013, the average property values were Rs 2905 per sq. ft. Thus, there has been an appreciation of about 18 per cent in the last one year. Interestingly, there has been a significant appreciation of 8 per cent in property values in Q2 2014 as compared to the previous quarter.
Advantages
Chanda Nagar is well connected to the heart of the city as well as to other areas via the Mumbai Highway (NH-9). It has a well-connected road network within and beyond through which APSRTC buses ply frequently. It also has a railway station which has enhanced its appeal among buyers. Besides, it also has many other important facilities like educational institutions, hospitals, religious institutions, banks, restaurants, water bodies and parks, among others. An important landmark in the area is the PJR stadium.
Realty scenario and developers
Chanda Nagar has many prominent residential pockets where the demand for residential property is high. Some of them include HUDA Colony, Chanda Nagar Colony, RTC Colony, Vishali Nagar, Vidya Nagar Colony, Arjun Reddy Colony, Jawahar Colony, Annapurna Enclave, Gouthami Colony, Tara Nagar, Indira Nagar and Papireddy Nagar, among others. The most commonly seen residential units in Chanda Nagar are 2 and 3 BHK apartments. As per the data listed with CommonFloor, among all the apartments which are available for sale about 59 per cent are 2 BHK units while 39 per cent are 3 BHK units.
Some of the prominent completed apartment projects that are listed with CommonFloor are Girija Residency by Girija Builders, RC Green Field by Ramana Constructions and Aarambh Township by Rajiv Swagruha Corporation, among others. There are also many upcoming apartment projects like SM Royal by SM Constructions, Solitaire Abode by Technopolis Construction Company and Aparna HillPark Lake Breeze by Aparna Constructions and Estates, among others.
Future Prospects
The future of Chanda Nagar holds promise in terms of demand for residential accommodation as well as appreciation in property values. This can be gauged from the price trends seen in the area in recent times coupled with the demand for residential property. However, the growth in infrastructure facilities in the area will play a major role in the demand for property. Demand for residential property is equi-proportional among both end-users as well as investors, with affordability being a major factor influencing buying decisions of both. End-user demand is propelled primarily from IT professionals working in IT hubs in the vicinity like Gachibowli, Hitech City and Kondapur, among others. The affordability of property in Chanda Nagar tilts the balance in its favour compared to IT hubs where property values are considerably higher. The buying decision of investors are mainly governed by the prospect of getting healthy returns on their investment in future at affordable prices.
