Banjara Hills demand is low as a residential destination

Q: Hey heard that Banjara Hills losing its sheen as a residential destination. Kindly discuss and let me know about the news.

Vineet raj, Hyderabad

6th June 2014

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Replies (4)

Hey those who prefer Banjara Hills for rental accommodation are also impressed by the facilities that the area offers in the form of its excellent connectivity to the heart of the city as well as to other areas across the city, presence of luxury apartments and villas, many office complexes as well as other facilities like schools, hospitals, banks, shopping centers and restaurants .:)

Rubiya,

6th June 2014

Comment

What about the rental values here ?

Gurmeet,

6th June 2014

Comment

@Gurmeet: As far as I know...the average rentals in Banjara Hills is also considerably higher (Rs 16 per sq. ft.) than in other areas like Gachibowli (Rs 15), Hitech city (Rs 14), Madhapur (Rs 12), Manikonda (Rs 10) and Miyapur (Rs 9). the average rentals in Banjara Hills is also considerably higher (Rs 16 per sq. ft.) than in other areas like Gachibowli (Rs 15), Hitech city (Rs 14), Madhapur (Rs 12), Manikonda (Rs 10) and Miyapur (Rs 9).

Balwinder Singh,

6th June 2014

Hey can you tell me why Banjara hills is facing low demands now ?

Supratim,

6th June 2014

Comment

@Supratim: Hey the primary reason for Banjara Hills to lose its sheen as a preferred residential destination is due to the emergence of alternate markets as feasible alternatives. Micro markets like Hitech city, Gachibowli, Madhapur, Manikonda and Miyapur have gained prominence as a residential realty destination due to various factors that have worked in their favour.

Vivek Kulkarni,

6th June 2014

Can you tell me what is the residential value, and other localities comparative price ranges ?

Vivek Kulkarni,

6th June 2014

@Vivek: Banjara Hills is considered to be the most expensive micro market in Hyderabad, with the average value of residential apartments in the area hovering in the range between Rs 6,300-7,400 per sq. ft. If comparative to other localities, itech city at Rs 4,660 per sq. ft., Gachibolwi at Rs 4,190 per sq. ft., Miyapur at Rs 3,200 and Manikonda at Rs 3,080. Going by these values, an average residential unit in Banjara Hills is a 3-4 BHK unit ranging between Rs 1-3.5 crore.

Balwinder Singh,

6th June 2014

Yes Vineet, even I heard his trend seems to be changing as alternate micro-markets in the vicinity have gained prominence due to the amenities and infrastructure facilities they offer. Some of these alternate micro-markets include Hitech city, Gachibowli, Madhapur, Manikonda and Nanakramguda, among others.

Vivek Kulkarni,

6th June 2014

Comment