Hyderabad is enjoying an impressive infrastructural and commercial growth. The recent Amazon campus opened in Hyderabad is the largest campus globally outside Seattle. It is spread over a vast 9.5 acres of land and comprises 3 million square feet of built up area. In an office space that expands over 1.8 million sq ft, it can seat 15,000 employees and will create indirect job opportunities for thousands of people. With such a huge job opening and opportunity, Hyderabad is now home to one-third of the total Amazon employee base across India. Besides, the real estate scenario in Hyderabad is slated to see a major evolution in both price and demand.
The newest Amazon office space is located at Nanakramguda in Financial District, Gachibowli. The many existing MNCs had already contributed to a growth in the real estate market in Gachibowli and the areas surrounding it. However, with the advent of Amazon office, the real estate market is expected to see a major boost in terms of both cost and demand.
How Amazon might affect the Gachibowli real estate market
Various commercial ventures, financial organisations like ICICI and Franklin Templeton and major establishments in MNC giants like Wipro, Hitachi Consulting, Cyient, Microsoft, Cognizant, Infosys, ICICI, Capgemini have their campuses in Financial District and Nanakramguda that comes within the vicinity of Gachibowli. The million workforce increased the demand of housing sectors and this prompted a rapid residential real estate development over the years in Gachibowli and its neighbouring areas like Financial District, Nanakramguda, Kokapet, Gopanpally, Tellapur, Nallagandla, Raidurg, Narsingi to Manikonda.
The property prices in Gachibowli and its surrounding areas are at its all-time peak and the inauguration of the world-class Amazon office will only add to it. The residential property rate in Hyderabad has increased to an average of 1.2 crore in the last two years and with the recent surge in investments on infrastructure, property prices continue to rise incessantly. The prices have appreciated by 7% over the last couple of years.
Any new infrastructural development or a new office has had a profound impact on property price and the future real estate trend. Gachibowli is no different. When Hyderabad started attracting IT investments, Hitech city was chosen as the major IT hub. But with more companies preferring Hyderabad for establishment and employment, the next IT park was formed in Gachibowli with large campus buildings of multinational companies, and service provider companies catering to International Banking, Insurance, Trading, Financial Back office operations, Commodity Exchanges, Venture Capital and Asset Management Companies. Since Hitech City has reached its prime, Gachibowli and Financial District is identified as one of the popular IT-ITeS and BFSI hubs of Hyderabad.
The recent Amazon establishment is expected to impact the residential real estate scenario in Gachibowli and the surrounding areas. It can be thus predicted undoubtedly that some of the most eminent builders are planning on investing and developing residential sectors around Gachibowli and Nanakramguda.
Gachibowli: the new hotspot for the millennial
Gachibowli has evolved into a trendy hotspot for the modern working generation. The presence of many lifestyle amenities like five-star hotels, dining options and lounges, along with the convenience of connectivity and commuting, the millennial generation is largely considering Gachibowli and its neighbouring localities as the preferred residential location. The area’s close proximity to MNCs, Financial institutions and Amazon’s office, has turned Gachibowli into an increasingly competitive real estate market. Besides, Google and JP Morgan have also proposed to set up their campuses in Financial District. The United States Consulate will also be opening its new building in Financial District spread out over 12.3 acres capable of handling about 2500 visa interviews a day.
With such infrastructural expansion and employment growth, it can be predicted that the real estate prices in this area will soon surpass the luxe locales of Hyderabad like Jubilee Hills and Banjara Hills.
The apartments in and around Gachibowli are set within luxurious gated community complexes with all the modern amenities and facilities. The millennials working in the tech industry prefer living in modern apartments that well reflect their trendy lifestyle. The multitude of commuting options and a shorter shuttle time to the workplace makes for a convenient living.
All these factors have encouraged the millennial workforce to look for apartments in Gachibowli or areas surrounding it.
Connectivity from Amazon quarters
Amazon campus is located at Financial district and the multitude of commuting options from Amazon’s new office space, the presence of schools, hospitals, and banks nearby make it a self-contained locality with many advanced facilities. There is an outstanding network of roadways connecting to various advanced areas of the city along with railway connection like the Lingampally Railway Station and Hitech City Railway Station.
The Rajiv Gandhi International Airport is 35 km away and takes merely 20-25 minutes by the ORR.
The establishment of the Amazon campus will definitely see a surge of affluent home buyers in the area and a rise in cost of living. If you are looking for apartments near Financial District, visit Honer Homes. Located in Gopanpally, Honer Vivantis by Honer Homes offers you more than a mere living space. It is an exceptional lifestyle within a gated community with premium quality apartments and amenities with international standards. This residential project with best-in-class features is located at the future-ready region of Gopanpally, Gachibowli in Hyderabad. It is also pertinent to note that Honer Homes is launching their second project soon right next to Honer Vivantis.