Sanatnagar Hyderabad realty trend June 2013
Hyderabad: Despite several developing localities and neighborhood in Hyderabad that offer residential units within the affordable segment, Sanatnagar has been emerging as a popular destination for property buyers.
Besides with issues such as the ever increasing property rates, very few projects have managed to retain a high standards regarding the timely delivery and quality of construction, etc. But Sanatnagar is an exception, roughly 2,000 residential units have been planned, as it has assured that it delivers on all the parameters, including timely delivery of projects, in the last five years.
The projects in Sanatnagar were launched with prices in affordable luxury range and remained up to the mark as promised by the developers. The projects also focused on improving physical and social infrastructure in the localities which facilitated people in terms of basic facilities.
Sanatnagar and Balanagar both came up at the same point of time, and there was strong competition between both the areas. They both had a slew of offers from real estate developers and gained almost similar response from buyers. But as Balanagar dropped due to legal issues, Sanatnagar witnessed good demand from buyers.
Sanatnagar witnessed real estate boom in a short span of time and has around 20,000 families living there. There are over 750 ready to move in flats already up in this region. Presently, the major concerns for the residents of Sanatnagar is improving connectivity and traffic de-congestion. The Hyderabad Urban Development Authority (HUDA) is looking to execute the proposed traffic de-congestion plan of ESI Road, Balakampet Road and other roads in Hyderabad.
The authorities have proposed to restructure the stretch- from Charminar (near new bus stand) to reduce and gradually close down illegal cuts to allow free flow of traffic. The road network is estimated to cost around Rs 2 crore, which will be contributed by the developers. The construction of malls and Movie complexes, and the completion of other infrastructure works are also in the pipeline.
The upcoming Metro line at Begumpet, located around two kilometers from Sanatnagar, has further increased the interest of investors. A well-laid bypass which leads to Sanatnagar is ready and many more connectivity options have also been planned.
The proposed Metro line between Raj Bhavan and Miyapur will have stations at Sultan Bagh, which is in close proximity to Sanatnagar. Sanjeeviah Park, James Street, Audiah Nagar, Secunderabad, etc are the proposed halts for this route.
In the first quarter of 2012 fiscal the upper range value of Sanatnagar was Rs. 3,650 per square feet, the average range value was at Rs. 3,488 per square feet while the Rs. 3,327 per square feet was calculated as the lower range value. Comparably in the first quarter of 2013, Sanatnagar’s upper range value was Rs. 4,475 per square feet, the average range value was at Rs. 4,254 per square feet while the Rs. 4,033 per square feet was calculated as the lower range value. Based on this comparison, the Highest Locality Price of Rs. 4,475 per square feet is up by 3 per cent, the Average Locality Price of Rs 4,254 per square feet is up by 7 per cent and the Lowest Locality Price at Rs. 4,033 per square feet is also up by 11 per cent.
Another most important positive factor of buying property in Sanatnagar is that the properties generally have clear land titles. Since initially, the land chunks were directly purchased by the builders from farmers and the villagers. At times when acquisition problems arose in other places, Sanatnagar kept developing successfully. With clear land titles and timely delivery of promised houses, Sanatnagar is certainly a prime destination for end-users.
