Hyderabad is currently witnessing the peak of commercial and infrastructure development. Over the past decade and a half, the city has evolved from the image of being an apprehended tier-III city to a thriving city high on commercial expansion and business opportunity. This has also opened up a chance for an increased number of jobs in various sectors. The increasing presence of human capital incentive in corporations like IT/ITEs, the real estate market has witnessed a new high in every passing year. Be it in real estate development from simple housing solutions to luxurious housing options, the prices have seen a steady appreciation over the years. The crucial reason for such an increased demand in residential property is because of the city’s welcoming culture. There is a sense of acceptance of diversity. People from all over India and even from different corners of the world find it easy to relocate and settle down in Hyderabad because there is no language barrier and Hyderabadis are welcoming and accommodating by nature. This mainly contributes to the growth of Hyderabad culturally, socially and economically.
Not only residential options but the real estate has also developed in commercial sectors too from five-star hotels to shopping malls to a number of dynamic co-working spaces.
Hyderabad’s residential real estate market has witnessed a positive trend in recent years in the peripheral areas of Gachibowli and the IT Hub of Financial District. Peripheral locations such as Gachibowli, Manikonda, Nallagandla, Gopanpally, Nanakramguda and Narsingi are the upcoming areas that have seen considerable residential development in the past few years.
Kokapet located in the western corridor of Hyderabad is considered as the new growth engine for the Telangana IT sector. In July 2019, the Telangana government has announced the development of a new standalone city with an estimated workforce of 5 lakh on a workplace area as huge as 90-million square feet. This new city will soon be developed with the motto of ‘Rise Infrastructure Hyderabad – Enhancing Liveability’ at the region referred to as the ‘Golden Triangle’, that stretches out from Kokapet to Muthangi ORR. To achieve this target, the Telangana government is developing a huge land-bank of 466 acres on a mission mode approach.
The 90 million square feet workplace in Kokapet will implement various amenities with pure ambiance that aims to cater to the essential needs of the working-class lifestyle. Many multinational and IT companies have already started shifting their offices to Kokapet at a bigger workspace with an extensive workforce, making it a hotspot for real estate activities.
The areas of Gandipet, Narsingi, Puppalaguda and Manikonda lying near Kokapet is witnessing a major growth in the residential real estate market. You can find a number of housing options in budget and luxury living in these localities lying in the Kokapet peripheral.
Located in the north-west zone of Hyderabad, Gachibowli is a prime preferred location for commercial and residential development. After Hitech City had reached the saturation point of commercial development, the Telangana Government has developed the next IT park in Gachibowli and now it forms one of the largest IT hubs in Hyderabad together with Nanakramguda and Financial District. Over the years, Gachibowli has grown into a software hub for companies operating from Hyderabad and it houses a number of IT/ITE giants, international banking and financial organisations, and prominent multinational companies.
The Indian School of Business is also located here. Besides a multitude of Grade A commercial buildings and working spaces, the area has also witnessed a significant residential development. Gachibowli is considered one of the most profitable areas for residential investment. The workspace is so closely located to the residential apartments and villas, that a concept of ‘walk to work’ is employed by developers when positioning and selling residential projects. Top global companies like Wipro, Sierra Atlantic, Computer Associates, Infosys and Microsoft IDC are located in Gachibowli.
With increased demand, this area has seen a constant rise in the price of residential projects in the past few years. Gachibowli and the areas around offer plenty of housing options in the form of apartments in standalone buildings to gated communities to villas.
The peripheral areas around Gachibowli like Kondapur, Botanical Garden, Khajaguda and Nanakramguda are well-known as thriving residential areas. With International schools, engineering and IT colleges, state-of-the-art healthcare facilities, fitness centres, multiple shopping malls, five-star hotels, banks and ATMs; these areas are self-sustainable neighbourhoods offering budget to luxury housing options.
A distance overview
- Financial District – 4.3 km
- Jubilee Hills – 10.9 km
- Hitech City – 6.4 km
- RGIA – 30 km
- Secunderabad Railway station – 24.8 km
Extended Financial District
The Financial District is the most recently developed largest IT hub of Hyderabad. While Gachibowli and Nanakramguda are considered as part of Financial District Phase I, the Telangana Government has decided to further expand the Financial District area with advanced facilities that will provide services to International Banking, Insurance, Trading, Financial Back office operations, Commodity Exchanges, Venture Capital and Asset Management Companies. Phase II of Waverock project is currently under development and promises to provide 2.5 million square feet of Class A office space in a Special Economic Zone being promoted by the APIIC (Andhra Pradesh Industrial Infrastructure Corporation). Financial District is home to a number of global companies like Microsoft, Franklin Templeton, UBS, CA, Infosys, Wipro and the ISB.
There are further proposed commercial developments in Financial District. Many MNCs such as JP Morgan Chase, Google, and others are ready to set up their campuses in Financial District of Hyderabad. United States Consulate will be opening its New Building in Financial District spread out in 12.3 acres for handling 2500 visa interviews a day. Amazon has already opened its largest global office here.
The fast paced development has led peripheral areas like Gopanpally, Nallagandla and Tellapur to develop into residential hotspots. Located just minutes away from Phase I and II of the Financial District, these areas have attracted the attention of millennial home-buyers.
Honer Homes has set a landmark in Gopanpally with its residential apartments in premium built quality and finesse. Honer Vivantis and Honer Aquantis are mid-segment premium homes located in Gopanpally-Gachibowli offer residents a living experience par excellence.
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