IT Development drives realty in Gachibowli, Hyderabad
Gachibowli, a suburb on the north-west part of Hyderabad city, is a major IT hub. It is made up of areas like Gachibowli, Nanakramguda, Manikonda, Raidurg etc. It is located just 5 kms from another IT hub, Hitec city and together they house many prominent IT majors like Microsoft, TCS, Accenture, Wipro, Infoyss, Capgemini etc.
There is rampant developments that are currently taking place in Gachibowli. Some of these are related to IT campus developments and IT Special Economic Zone (SEZ) developments.
The average price values for apartments has undergone fluctuations along the years. In 2008, the average sq ft price was Rs. 3925, in 2009, Rs. 3,530, in 2010, Rs. 3,670, in 2011, Rs. 3,295, in 2012, Rs. 3,840 and in 2013, Rs. 3,475. The only real jump in prices was witnessed during the third quarter of 2012, when it rose to Rs.4,465 per sq ft. However, in 2013, in the quarter ended June, average sq ft prices have risen to Rs.3,835, recording a 10% appreciation since the last quarter. A major factor that can be attributed to this rise is due to the spurt in IT developments.
Project
Size
Type
Price
Emaar Boulder Hills by Emaar MGF Land Ltd
1870 – 5430 Sq ft
Apartments
Rs. 1.03 – 4.35 Cr
First Leaf by Pooja Ventures Pvt Ltd (
4620 – 4810 Sq ft
Villas
Rs. 3.5 Cr
The Botanika by Koncept Ambience Group Pv Ltd
4120 – 9350 Sq ft
Apartments, Villas
Rs. 2 Cr
Manjeera Diamond Villas by Manjeera Group
3520 – 3520 Sq ft
Villas
Rs. 2 Cr
Lanco Hills Apartments by Lanco Hills Technology Park Pvt Ltd
1915 – 4465 Sq ft
Apartments
Rs. 67 L – 1.90 Cr
Orange Country by Jayabheri Group
3313 – 4040 Sq ft
Apartments
Rs. 1.20 – 1.75 Cr
Bharat ICONIA by Bharat Infratech Projects
2310 – 5020 Sq ft
Apartments
Rs. 68.47 L – 1.70 Cr
Nagarjuna Residency by NCC Urban Infrastructure Ltd
2445 – 3185 Sq ft
Apartments
Rs. 1.21 – 1.58 Cr
Praneeth Westwoods by Praneeth Developers
2762 – 3535 Sq ft
Villa
Rs. 1.5 Cr
L&T Serene Country by L&T Infocity Ltd
1160 – 2717 Sq ft
Apartments
Rs. 1.12 – 1.38 Cr
Sankalp Homes by Sankalp Infra Project Pvt Ltd
2077 – 2822 Sq ft
Apartments, Villas
Rs. 54.70 L – 1.28 Cr
Rajapushpa Atria by Rajapushpa Properties Pvt Ltd
1363 – 3488 Sq ft
Apartments
Rs. 47.25 L – 1.22 Cr
Golf Edge by Phoenix Groups
1050 – 3638 Sq ft
Apartments
Rs. 1 – 1.20 Cr
Jayabheri Whistling Court by Jayabheri Group
1283 – 2597 Sq ft
Apartments
Rs. 57.74 L – 1.17 Cr
Gauthami Iconia by Gauthami Developers
1225 – 2940 Sq ft
Apartments
Rs. 47.77 L – 1.14 Cr
Due to this rapid pace of IT development in Gachibowli, many local as well as national property developers have been attracted to this locality to embark on their residential projects. Some of the prominent developers who have launched residential projects in Gachibowli are Emaar MGF, Larsen and Toubro, Pooja Ventures, Manjeera Group, Bharat Infratech, Sankalp Infra, Phoenix Group, Jayabheri Group, NCC, Gautham Developers etc. (please refer table). Most of them are apartment projects, ranging from 1050 sq ft to 5430 sq ft. The price range is between Rs. 47.77 L to Rs. 4.35 crores. Moreover many residential projects have also been launched within SEZs. Some of these projects are Lanco Hills and Divyasree Orion. With many more projects on the anvil in Gachibowli, the landscape of the locality is set to see a radical change in the years to come.
