West Marredpally: Immense potential for developers due to supply deficit
West Marredpally, located about 10 km north of Hyderabad, in the proximity of Secunderabad, is witnessing a rise in demand for realty property. The factors that are working to the advantage of this area are affordability, excellent connectivity and availability of good infrastructure facilities. Besides, the area also presents the potential of expected price appreciation in future.
Affordability puts demand at a premium:
Affordability is one of the prime factors that is attracting investors and buyers in flocks to this area. Besides providing affordability in capital terms, availability of affordable rental residences is also an attraction that this area can boast of. Apartments in the price range between Rs.20-60 lakh are available in this area, depending on the size and amenities on offer. Rental values are also quite affordable, with apartments between 1200-1500 sq ft available for rentals between Rs.8,000 – 14,000 per month. Commercial space in the area has a capital value ranging from Rs.5,000-5,500 per sq ft. The affordability factor is bringing in many young professionals and corporates working in MNC’s, who don’t mind staying away from their work place, considering that the price difference is comparatively less here.
Excellent connectivity and transport facilities:
West Marredpally provides excellent connectivity through road, rail and air due to its proximity to the Secunderabad railway station as well as to the old airport. While the old airport is about 5 km away from West Marredpally, the Secunderabad railway station is just about 2 km away. APRTC buses ply in the area facilitating service to all parts of the city. Another important area in the near vicinity is Begumpet, located about 5 km away.
Social Infrastructure:
West Marredpally offers many social and pubic amenities in the area. Some of the reputed schools in the area are Secunderabad Public School, St Patrick’s High School, St John’s Church High School etc. Kasturba Gandhi Women’s College is one of the oldest and most renowned colleges in the area. Geetha Multispeciality hospital and Rainbow hospital are two important hospitals that provide excellent health-care services. Besides, there are many other amenities like parks, supermarkets and function halls.
Realty potential of the area:
Many commercial and residential projects dot the landscape of West Marredpally. Some of the prominent gated residential projects in the area are Rukmanidevi Colony, Kiran Enclave, Radhika Colony and Wellington Enclave. Some of the recently developed projects in the area include SMR Vinay by SMR Constructions and Aashray Chaand by Aashray Constructions. Demand is considerably high for 2 BHK and 3 BHK multi-storey residential apartments in the area. The demand-supply ratio is heavily skewed in favour of demand in the area, due to a supply deficit for residential units. Consequently, there is a high probability for price appreciation in the area in the near future. This presents realty developers the potential of investing in prestigious projects in the area to cater to the rising demand being seen.
