Property around HITEC City Hyderabad

Q: How is the development of HITEC City influencing the real estate market in Hyderabad? I’m considering buying property in the surrounding areas like Manikonda, Gachibowli, Madhapur, and Nanakramguda

Kamala Reddy, Hyderabad

7th May 2014

Locality Review in Hi Tech City, Hyderabad

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Replies (3)

Hey, I think it is a good idea to invest in property in any of those areas. The prices of the apartments in Madhapur and Nanak Ram Guda are a bit on the high side. The average square foot price in Madhapur is Rs. 4764 and in Nanak Ram Guda it is Rs 5000.
Other localities like Gachibowli, Manikonda or Kukatpally are slightly cheaper and more affordable. The average square foot price of apartments in these areas is around Rs. 3000.
Extremely cheap apartments are hard to find around the HITEC City, but you can always charge an appropriate rent to make up for the amount that you invest in the property

Lokesh Gowda, Hyderabad

27th May 2014

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I agree that these areas around HITEC City will most attract young working professionals, as bigger families and older people might not want to live in the middle of such a busy area. The number of young IT professionals is increasing as more and more companies start up offices in the HITEC City. The demand for 2 or 3BHK apartments for rent in this area is constantly on the rise. If you do invest in a property around Madhapur or Nanakramguda, you will have no problem in renting it out, and you can get back your investment within few years of renting it.

Sriram Gowda, Hyderabad

7th May 2014

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Hey, since HITEC City is the IT hub of Hyderabad, there is a big rush for apartments in all the areas nearby. The surrounding areas like Madhapur, Manikonda, and Gachibowli offer affordable apartments for rent as well as sale for all the young professionals of HITEC City, who want to get a place close to their work place.
If you buy a property in any of these areas, you will find plenty of takers in terms of prospective tenants. Try to buy something that will appeal to the younger crowd as you will find even more takers then.

Lata Rao, Hyderabad

7th May 2014

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