Drainage clean up reviving Ashok Nagar market?

Q: Hello. I am planning on moving to Himayath Nagar soon. I want to know more in detail about Ashok Nagar as a locality because it seems to have very reasonable property rates. But I heard civic issues were relly bad some time back. But now the crporation is taking care of those problems right? So do you think it is a good place to invest here?

Radha Reddy, Hyderabad

12th September 2014

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Replies (9)

In 2012, that whole drainage thing happened and property values decreased like crazy. Now it is slowly picking up. But if you're investing here, I suggest you go in for long term investments. it's still going to take some time before this market is completely at its peak. Best of luck! :)

Apsara Ivaturi, Hyderabad

12th September 2014

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A 2 bhk is available for as low as Rs 30 lakh. And a 3 bhk for 60 lakh. But in places away from the drain, it is possible to get a 2 bhk for 60 lakh. Also monthly rental values dropped from Rs 9,000 to 10,000 per month in 2012 to Rs 6,000 to 8,000 in 2013..

Nakul Rao, Hyderabad

12th September 2014

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Yeah but since there;'s been barely any demand for property in Ahoke Nagar all this while, there's also been little or no development. Infrastructure facilities are not there much. And as you go closer to the drain property prices are very cheap. As you move away from the Naala, they get a little more expensive.

Kamat Reddy, Hyderabad

12th September 2014

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Another reason for the delayed work of GHMC is because of land encroachment issue. Many people have built properties on lands that don't belong to them. And now they are refusing to leave. So this is another delay to complete the infrastructure works.

Ashwin Aysola, Hyderabad

12th September 2014

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Now mny real estate companies also talk about how more people are showing property demand for this locality. Before they only used to get 6 to 7 queries in a week, but now they get around 4 per week. The 19% demand for independent houses in April to June 2013 is now increased to 46% in the 2014 quarter.

Shilpa Vydyula, Hyderabad

12th September 2014

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I remember that in 2012, property prices in Ashok Nagar ranged between Rs 4,050-4,900 per sq ft. Then after that in 2013, prices drastically fell to Rs 2,050-2,750 per sq ft. But now there's been a small revival in the market due to this clean up work and now prices have come up to Rs 2200-2,900 per sq ft.

Ashok Sharma, Hyderabad

12th September 2014

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Hey now the situation is much better. Hussain Sagar Naala is no longer as bad. I notice that the drain covering work by GHMC has already been half finished. Very soon it will be preoperly covered and this issue won't be there no more.

Ashok Sharma, Hyderabad

12th September 2014

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I used to stay in Ashok Nagar. And i relocated from there 3 years ago. Because from my 5th floor residence, it looked onto a massive open drain that bred mosquitoes, caused illnesses, malarai, and water borne diseases. And very horrible smell used to come. I just could no longer stay there.

Asif Khan, Hyderabad

12th September 2014

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My aunt stays in Himayat Nagar and it is a great locality. She stays next to green parks, water bodies and very clean environment. But Ashok Nagar which is very close to Himayat Nagar has much cheaper property rates ranging from Rs 2,200-2,900 per sq ft. But in Himayat Nagar it is costing Rs 4,700-6,000 per sq ft.

Medha Mammidipuddi, Hyderabad

12th September 2014

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