Top 5 areas in Hyderabad to buy Apartments
Hyderabad is witnessing a reversal in fortunes with the realty market of the city coming out of the slumber that had engulfed it for the last few years. The economic downturn combined with the political instability surrounding the formation of Telangana had relegated the city’s realty sector in deep crisis. However, the bifurcation of the State as well as the installation of a stable government in Telangana has brought Hyderabad back into the reckoning in realty terms. The demand for residential property in the city has increased following the formation of the State. Investors are evincing interest to invest in property here due to various favourable factors. These include affordable prices, favourable investor climate due to government support and availability of low cost building materials.
Based on CommonFloor listing data there are many areas across the city where the availability of apartments is considerably high so as to cater to the increasing demand. They include areas like Manikonda, Gachibowli, Kondapur, Hitech City and Miyapur.
Manikonda
Manikonda which is located about 16 km from the heart of the city along its western fringe has the highest availability of apartments in the city as per CommonFloor listing data. It accounts for more than 8 per cent of the city’s total available apartments for sale. Among these about 40 per cent are 2 BHK apartments while more than 50 per cent are 3 BHK units. Other configurations have minuscule representation. Average prices of 3 BHK apartments sized between 1,500 and 2,500 sq. ft. are priced between Rs 40-80 lakh. For 2 BHK units with area between 1,000-1,500 sq. ft., prices range between Rs 20-40 lakh.
Gachibowli
Gachibowli is located about 28 km from the heart of the city along the western fringe and is comparable with Manikonda in terms of available of apartments for sale. Among these, more than 20 per cent are 2 BHK apartments while about 68 per cent are 3 BHK units. Average prices of 3 BHK apartments sized 1,500 and 2,500 sq. ft. are priced between Rs 50 lakh and Rs 1 crore. For 2 BHK units with area between 1000-1,250 sq. ft., prices range between Rs 30-60 lakh.
Kondapur
Kondapur is located about 20 km from the heart of the city along its north-western fringe and comes next on the list in terms of apartment availability. Among these, more than 39 per cent are 2 BHK apartments while more than 51 per cent are 3 BHK units. Average prices of 3 BHK apartments sized between 1,500 and 3,000 sq. ft. cost anywhere between Rs 50 lakh and Rs 1 crore. For 2 BHK units with area between 1,000-1,300 sq. ft., prices range between Rs 30-50 lakh.
Hitech City
Hitech City is located about 18 km from the heart of the city along its north-western fringe and follows Kondapur in terms of apartments available for sale. Among these, more than 25 per cent are 2 BHK apartments while more than 63 per cent are 3 BHK units. Average prices of 3 BHK apartments sized between 1,500 and 2,500 sq. ft. are priced between Rs 70 lakh and Rs 1.5 crore. For 2 BHK units with area between 1,000-1,300 sq. ft., prices range between Rs 30-50 lakh.
Miyapur
Miyapur is located about 23 km from the heart of the city along its north-western fringe, and rounds off the list of top 5 areas for apartment availability as per CommonFloor data. Among the apartments available for sale more than 55 per cent are 2 BHK apartments while about 43 per cent are 3 BHK units. Average prices of 3 BHK apartments sized between 1,300 and 2,000 sq. ft. range between Rs 30-70 lakh. For 2 BHK units with area between 1,000-1,200 sq. ft., prices range between Rs 30-40 lakh.
