Driven by high demand of the middle class investors, Maheshwaram is fast emerging as a prime residential location for IT professionals in Hyderabad.
The realty sector in Maheshwaram is all set to get a fillip with the proposed special economic zone (SEZ) in the area recently getting environmental clearance from the Telangana government.
Lying in the Rangareddy district of South Hyderabad, Maheshwaram is close to Srisailam Highway, connecting the area to the Outer Ring Road (ORR) and ultimately to core areas of Hyderabad.
Once the Rs 116 crore electronic hardware SEZ, spread over 339.75 acres gets functional, the locality is expected to see an increase in the number of professionals and demand for housing is likely to rise in the near future. Driven by high demand of the middle class investors, Maheshwaram is fast emerging as a prime residential location for IT professionals in Hyderabad.
“Those who missed the opportunity to invest in Madhapur and Gachibowli now have another chance of investing in Maheshwaram and surrounding areas. These localities will be key drivers for creating new employment opportunities in Hyderabad,” said Priya Kumar, owner of a real estate firm in the area.
While property prices in Central Hyderabad, near the IT hubs, have risen over the last few years, peripheral areas such as Maheshwaram are still fairly affordable. With mainly residential plots and villas on sale, one can own a piece of property in the city at a modest price of Rs 20 lakh. The average property rate is around Rs 3,500-4,700 per sq ft.
Buyers interested in 2BHK residential houses or villas will have to shell out Rs 18 lakh onwards while 3BHK residential houses or villas cost above Rs 53 lakh in the area.Those interested in bigger 4BHK villas will have to set aside a budget of Rs 69 lakh and above.
End users planning to invest in residential plots and then construct houses as per their wish will have to pay upto Rs 20 lakh for a plot of 2403 sq ft
The locality is at a distance of 21-km from the international airport and 19-km from Kothur, which will have an IT park in the near future. Currently, the area boasts numerous infrastructural facilities such as well-built roads, water supply, underground power supply and basic necessities like ATMs, schools, colleges and retail shops.
The area offers a number of public conveyance options of cheaper travel to the main commercial zones of the city such as Hitec City, Kukatpally and Kondapur. Srisailam Highway, which is 2-km from Maheshwaram, joins Central Hyderabad via the ORR. Maheshwaram is also situated close to the Bangalore-Hyderabad Highway (NH-7), which is an added advantage.
The area is a dream destination for professionals in the field of IT, pharma and electronics. The government is laying great emphasis on future development of the locality not only due to land availability but also because of its connectivity to two major highways (Srisailam and Bangalore) and ORR, said Salman Qureshi, a resident.
Looking at the fast-paced development and affordable options still available in Maheshwaram, investors can make use of the opportunity before it’s too late and property prices go beyond reach.
News Souce: Magicbricks.