Destination Hyderabad: Top 3 IT Hubs

Gachibowli

Gachibowli, one of the prominent IT hubs of Hyderabad, is located in the north western part of the city in the Serilingampally mandal of the Rangareddy district. It is flanked by Hitech City towards the east, Nanakramguda in the south and Osman Nagar and Tellapur in the west.

The cosmopolitan nature of the locality is attracting several young IT professionals working in and around the area. There are a number of completed, ongoing and upcoming residential projects across different segments.

“As part of ‘Real Insights’ into real estate, CommonFloor.com has come up with a detailed report on Top 3 IT Hubs in hyderabad with in-depth analysis based on CommonFloor data.

For detailed report“

Real estate market

Real Estate in Gachibowli is on the rise. Due to the young IT crowd that is ready to shell out some extra money to stay close to IT establishments, the capital value of the apartments here is on upward curve. Leading developers and builders of the country have their projects lined up in this area for the upcoming decade. The property rates in Gachibowli area have appreciated at least 10 times in the last 4-5 years.

The average sale price of multi-storey residential apartments in Gachibowli is Rs 4,400 – 5,500 per sq.ft and the rental price for a standard 2BHK apartment ranges from Rs 12,000 – 18,000 per sq.ft.

Kondapur

Kondapur is a suburban area that is located in the Ranga Reddy district of Hyderabad Metropolitan Region. A prime residential area, Kondapur is fast emerging as an important hub for start-up businesses and working class people. This place has undergone terrific real estate expansion in the past few years, leading to an overall rise in realty demand. This facelift has also left Kondapur with a well-planned mix of residential and commercial pockets. Nestled close to the Madhapur-Kondapur stretch, this place is surrounded by IT hubs such as Gachibowli and Hi-Tech City. The ease of access provided by Kondapur simply makes it an ideal residential location for the IT workforce.

Real Estate Market

The surge of employees migrating to Kondapur has resulted in a change in the residential scenario. More and more people are now opting for apartments, with decreasing preference for houses and villas. Presently, most of Kondapur is crowded with multi-storey apartments of both semi-luxury and luxury calibre. Although there is a steep rise in the number of apartments, there are still a good number of houses, villas and plots to be found.

The price of apartments in Kondapur has been going steady, until an overabundance of buildings led to a dip in the rates in February 2014. But eventually, the prices soared back up, and are currently at an average of Rs. 3,500 – 4,300 per sq. ft. Typically, the monthly rental of a 2BHK apartment would cost anywhere from Rs 10,000 to Rs 16,000.

Madhapur

Madhapur is a locality in Hyderabad that is right in the middle of the city’s IT hub. It consists of the IT SEZ-rich Hitech City, as well as the residential areas surrounding it. Madhapur is located in north-west Hyderabad, in the Rangareddy district, to the south of Kukatpally. Hitech City lies on the western part of the locality, and it is flanked by the Durgam Cheruvu Lake in the south. Naturally this locality sees the most sales in real estate. With thriving residential and commercial markets here, Madhapur is the place to live in, in Hyderabad.

Real estate market

The real estate market in Madhapur is dominated by the professionals working in the IT and financial offices in and around Madhapur. People having offices in Hitech City, Manikonda and Gachibowli, often choose to buy or rent a place in Madhapur because of lower price rates. The residential market of Hyderabad is better for investment than its counterparts in Bangalore, Kolkata, Chennai and Pune. Especially in Madhapur the residential market is seeing a growth because of the number of IT/ITeS SEZ and Grade A office and commercial spaces in and around this area. Madhapur is one of the most preferred residential micro-markets in Hyderabad.

The average rental values for a 2BHK are between Rs. 12,000 and Rs. 14,000, and capital prices vary from Rs 4,000 – 4,800 per sq.ft.