Proximity to IT hubs: Realty demand increases in Nanakramguda and Madhapur, Hyderabad
Areas in the proximity of IT/ITeS hubs of Hyderabad like Gachibowli and Hitech city are witnessing a consistent surge in property values. Two such areas in the western part of the city which have seen considerable rise in demand as well as in value are Nanakramguda and Madhapur.
Proximity to IT hubs:
Located on the western fringe of Hyderabad, Nanakramguda is about 22 km from the heart of the city. Madhapur is also located about 15 km from the heart of the city, towards the west. While Nanakramguda is located about 4 km from Gachibowli, Madhapur is located about 4 km from Hitech city. Nanakramguda and Madhapur are located about 10 km apart from each other. Another area which is in the proximity of Nanakramguda and Madhapur is Manikonda, which is a hub for financial institutions. This has also contributed to the rise in demand for these areas.
Best of both worlds:
It has been seen that the property prices in Nanakramguda and Madhapur are quite similar to those in Gachibowli and Hitech city. However, the demand for residential property in Nanakramguda and Madhapur are primarily due to their proximity to the IT hubs. It has been seen that in the last two years IT hubs like Gachibowli and Hitech city have matured into residential as well as commercial realty markets. As a result, people who are working in the IT hubs and would prefer to stay away from commercial spaces are choosing areas like Nanakramguda and Madhapur. These areas provide peaceful residential living conditions with commercial spaces in the vicinity.
Price appreciation witnessed:
The average property prices seen in Gachibowli and Hitech city ranges from Rs.4,000-5,000 per sq.ft, while those in Nanakramguda and Madhapur range from Rs.3,500-4,500 per sq.ft., with a price appreciation between 2-5% since the previous quarter seen in all areas. The average rental values in these areas vary between Rs.15-16 per sq.ft, with an appreciation between 5-7% compared to the previous quarter.
Good connectivity:
Both these areas provide excellent connectivity to other parts of the city. The two major roads that connect Nanakramguda and Madhapur with other parts of the city are the Outer Ring Road and the Hitech city road. Both these areas offer easy connectivity to the NH-9 as well as to the proposed metro station at Miyapur. Besides, the Rajiv Gandhi International airport as well as the Lingampally railway station are in the vicinity of these areas. While the airport and railway station are located at a distance of about 10-11 km from Madhapur, they are about 18-21 km from Nanakramguda.
Adequate social infrastructure:
Social infrastructure in Nanakramguda and Madhapur are adequately available. Some of the amenities available in Nanakramguda include the Institute of Insurance and Risk Management (IIRM), besides companies like Cognizant, CapGemini and CA Technologies. Amenities available in Madhapur include schools like the CGR International School, Newton Public School, Meridian School etc, colleges like Masterji College of Architecture, National Institute of Fashion technology etc, companies like 3 Eye Consullting Group, theatres like Hitech theatre etc.
