Hyderabad: Kondapur Emerges Most Active Micro-Market in 2015
The real estate activity in Hyderabad continued to be vibrant post the split of Andhra Pradesh and Telangana. Several markets in the city looked vibrant in terms of property sales and rentals this year. Of all the areas of Hyderabad that witnessed high activity, Kondapur emerged as the most active micro-market in 2015, as per CommonFloor annual report “Hyderabad Real Estate in 2015”.
What drove Kondapur real estate this year?
One of the major selling points of Kondapur is its proximity to the IT/ITeS hubs of HiTech City and Gachibowli. Hence, the area witnesses significant demand from IT professionals, both for purchase and rentals. Another major driver of the real estate sector here is the area’s infrastructure and available options compared to few other areas in the vicinity, which continue to attract both commercial and residential activity in the area. Kondapur has excellent connectivity and accessibility to other parts of the city via road and rail. All these factors led to significant real estate activity in the area in 2015.
As per CommonFloor’s annual report, following are a few parameters on which Kondapur ranked high this year.
Availability: Kondapur witnessed a high availability of new properties this year, just after Gachibowli. It offered apartments across various segments – from affordable to luxury, and various configurations – from 1BHK to 3BHK units. The area also offered a few villa projects this year. Property prices in Kondapur were in the range of Rs 3,000-4,700 per sq. ft this year.
Rental yield: Kondapur was one of the top areas offering high rental yield (approx 3.9 per cent) this year to investors due to high rental demand by IT professionals.
Resale availability: Besides new unit supply, Kondapur also ranked among the top areas in terms of the number of properties available for resale. These properties included apartments and plots.
Not only did these factors make Kondapur a highly active real estate micro-market this year, but also an area that will continue to grow in the coming few years.
