Excellent Connectivity via ORR pushes up demand for realty in Shamirpet
Shamirpet is a fast developing suburb located 28 km away from Hyderabad along the Rajiv Rahadari road, on its north periphery. The biggest attraction of the area at the moment is the availability of plots in the below 15 lakh range. With the Outer Ring Road (ORR) being just 1.5 km away, connectivity is a huge advantage that this area can boast of.
Factors luring investors:
Investors who had previously shied away from this area, started flocking to invest here, following the development of the ORR. Smooth connectivity, affordability as well as a healthy Return on Investment (ROI) were clinching factors that acted as a catalyst to lure investors to this area.
Hike in demand for stretches on ORR surrounding Shamirpet:
The property market in Shamirpet has received a further boost as a result of the 38-km long ORR stretch between Patancheru and Shamirpet. Connectivity to the area would be further enhanced following the development of the Shamirpet to Pedda Amberpet stretch, which is expected to be operational in 2014. Besides, many other hitherto attractive realty destinations like Kukatpally, Medchal, Hayatnagar and Shamshabad are facing saturation in realty activity, due to which Shamirpet has gained in significance.
Affordability a prime factor for demand rise:
Shamirpet presents an array of options for home buyers ranging from residential plots, to villas, to independent houses. However, the demand for residential plots is considerably higher, considering the affordability factor. Plots in the range of 2,250-2,700 sq ft are available at a price range between Rs.400-500 per sq ft. Hence, it costs only Rs. 9 lakh for a plot measuring 2,250 sq ft. The average price for individual plots range between Rs.9-14 lakh, with units costing lower and higher available as well.
Demand most in middle-income class:
Most of the investors intending to invest in property in Shamirpet belong to the middle income group. Moreover, most middle income class of people prefer an independent house over a multi-storey apartment, thereby pushing the demand for plots up.
Villas also have many takers:
Besides plots, villas are also in high demand in Shamirpet. Most of them ar either 3 BHK or 4 BHK units, in the size range between 3,700-4,200 sq ft, and are available at Rs.1-2 crore per unit. Considering that home seekers are looking for a better lifestyle experience from such units, projects are being launched with units that are embellished with plush decor and all modern amenities. Besides having sophisticated security features, they also provide state-of -the-art recreation and entertainment facilities.
Villa developers in Shamirpet:
To cash in on the rising demand for villa units in Shamirpet, many renowned developers have embarked on prestigious projects. Some of the developers who have ready to occupy villa projects are Modi Builders, Landmark Builders, Prajay Engineers and Alliance Infrastructure. These units range from 2-5 BHK, with all modern amenities like swimming pool, gymnasium, club house and other recreational facilities.
