The rate per sqft for 2BHK and 3BHK apartments can be somewhere in between Rs 2500 to Rs 3200 where as villas are mostly priced at Rs 4500 to Rs 6000 per sq ft. In terms of rental options, On an average, 2BHK and 3BHK apartments come with a price tag of Rs 10000 to Rs 17000 per month.
I want to buy a residential plot in Manikonda, but the land owner told me that I will not be able to get a loan as most of the plots in the locality are not approved. Should I buy residential plot project in this area?
Hello Dhananjay, Before investing in property, you need to check for disputes and risks. The land you are interested in might be a matter of dispute which has well-concealed by its owner.
Hi, I would like to say this locality comes under Panchayat rule, permission was required to construct more than ground floor plus 2 floors. However, you can find many illegal constructions in this area.
Manikonda is amongst the top 10 preferred location in Hyderabad for buying property in the capital market. Being close to IT hubs, the area is one of the top options for IT professionals looking out to buy property close to their workplace. Manikonda is near IT Parks such as Hitec City, Nanakramguda, Gachibowli and Raheja IT Park.
@ Dhananjay In terms of water supply, the locality has faced water shortage in the past. The situation is much better now. Electricity supply is adequate in this area and mostly all commercial and local utility is available in this location.
Hi Vasanth i don't have any idea of the project name but yes there are many..more than 400 buildings were spotted as illegal. Buildings in Manikonda are given permission to build only ground plus three floors as it comes under panchayat permission. But it was found that some builders have violated the rules and constructed up to five floors by getting permission from the panchayat authorities.
Hi Rajiv..can you please elaborate this whole issue..who was the builder,,which project and why they were charged money to pay..?? i recently booked a flat in Manikonda and i am in fear that such things does not happen in my case. I need to immediately check all the papers of the building now.
Hi Jackiee..i need to update with one thing..no doubt that Manikonda is good place to invest but yes please make sure before buying a flat thazt the building is not illegal. It is because many illegal buildings were identified in Manikonda. The builders were also charged some amount to pay the owners of the project.
Hi Sishir..can you suggest me good projects as i am planning to buy a flat in Manikonda. .?? I heard that property price here is around to Rs 2554 per sq. ft. Is this true. I am looking for a very affordable one.
Hi Manikonda is a highly preferred area by people working at Gachibowli and Hitech City.It is seeing growth in various sector like infrastructure, shopping, entertainment etc. It offers great connectivity to all several parts of the city also. Many reputed developers have launched their residential and commercial projects in Manikonda. Along with this, one can see many shopping centers, good educational institutions, reputed hospitals, entertainment zones in nearby areas.