Tellapur Property Values appreciate by 50%
Tellapur, located about 32 km west of the heart of Hyderabad, has witnessed a 50 % rise in capital values beginning Q2 2013 to the end of Q4 2013. This is good news for buyers who had invested in this suburb about a year and a half back. According to data, prices of residential apartments which were about Rs.2100 per sq.ft., nearly 18 months back, have now increased to about Rs.3100 per sq.ft. Thus, a 1000-sq.ft apartment worth Rs.21 lakh earlier would now be worth over Rs.30 lakh.
Strategic location
The prime reason for this exponential rise in property values in Tellapur is due to its strategic location between the financial district of Gachibowli and Bharat Heavy Electricals Ltd (BHEL). Gachibowli, being an important IT hub, also houses several companies of other sectors. BHEL being an important public sector company, has many employees working for it. With Tellapur being in the vicinity of both these commercial hotspots, there is considerable demand for residential property from employees working in those areas.
New projects at competitive prices
Another important factor that has resulted in an upsurge in demand for residential property in Tellapur is the availability of various new residential projects at competitive prices. Developers have embarked on many new projects in the area, with many apartments as well as villas coming up. This has resulted in a situation where buyers have a bouquet of options to choose from. Moreover, in comparison to other areas in the vicinity like Gachibowli and Madhapur, where capital values are between Rs.5000-6000 per sq.ft., apartments in Tellapur are still priced in the affordable price range of Rs.3000-3400 per sq.ft.
Other advantages
Demand for residential property in Tellapur is propelled by both investors as well as end-users. The key factor for end-users is its proximity to office spaces located at Gachibolwi, Madhapur and BHEL. Moreover, factors such as lower capital values, lesser traffic congestion and lower pollution levels are leading to the rise in demand for residential property. From an investor perspective, immense prospects of price appreciation is the main attraction. Many residential projects are in various stages of completion. With prices expected to rise in the city post the General elections as well as nearer to the time of completion of projects, it would be an appropriate time now to invest in residential property in Tellapur.