Nallagandla – Emerging Affordable Housing Destination

Nallagandla – Emerging Affordable Housing Destination

Located between Gachibowli and BHEL, Nallagandla, with its IT boom is creating buzz in the affordable housing realty market

Hyderabad offers a host of affordable housing options across several micro markets. One such market is Nallagandla in the western side of the city. It is sandwiched between Gachibowli and BHEL. The area came into prominence owing to the IT sector growth. It is a relatively new residential destination that is fast finding a foothold in the real estate market of the city. Land prices in the past few years have seen growth, attracting attention from investors.

The locality is transforming into a fullfledged residential hub due to its developing infrastructure and improved connectivity. Housing demand is from people working in the IT companies while BHEL employees also contribute significantly. BHEL is a high growth area in terms of planned development with good support of logistics via connectivity through wide roads to Hitec City, Gachibowli and Kukatpally. NH-7 runs through this area, connecting it to the suburban areas.

“Employment opportunities and availability of civic amenities nearby attracts buyers to Nallagandla. It is a preferred residential area for those searching for affordable homes. There are new residential projects both under-construction and ready-to-move-in. Buyers can choose depending on their budget and preference. This area won’t disappoint as far as returns are concerned, if the investment horizon is 3-5 years,” says Rama Raju, a real estate agent in the area.

Connectivity & Amenities :
The area is 3-km from the Lingampally MMTS station. It is situated between the Outer Ring Road (ORR) and the Old Mumbai Road. As a result, swift connectivity and easy accessibility with important junctions such as Hitec City, Banjara Hills and other parts of the city is a clear advantage. The Rajiv Gandhi International Airport is 40 km from here and can be accessed easily via the ORR. The locality shares its neighbourhood with Nizampet, Miyapur, Beeramguda, Gachibowli and Kukatpally. In fact, Nallagandla Lake is another attraction, adding value to the location.

“Nallagandla is still developing but basic amenities such as grocery shops, ATMs, schools and colleges are available in close proximity. Nallagandla houses a number of good schools, colleges, healthcare centres, banks and supermarkets,” says Niru Reddy, a resident of the area.

Property Prices :
Apart from its potential of offering good rental returns, the locality is strategically situated with upcoming physical and social infrastructure. Prices in the area range between Rs 3,000-4,000 per sq ft. Many new residential housing projects are also coming up here so buyers have plenty of options between ready-tomove-in and under-construction properties. A 2BHK is likely to cost you Rs 45-80 lakh while a 3BHK may cost you Rs 70 lakh to above Rs 1 crore depending on the property, size and location. Apartments in Nallagandla hold high rental values.

Demand is from IT professionals and the officials working in BHEL. Rentals fall between Rs 15,000-25,000 per month for a 2BHK flat whereas a 3BHK will cost Rs 20,000-40,000 per month depending on what type of property you choose.

Affordability :
The area offers properties at affordable rates and the market shows upward price trends. Therefore, this could be the right time to make an investment. The housing inventory consists of villas, builder floors, plots and apartments. If you are planning to buy a spacious apartment to reap profitable returns in Hyderabad, Nallagandla can be a good choice at this point in time.

Hyderabad is a growing market and infrastructure push through policy thrust by the government is likely to work in favour of the area. If you are planning to buy, this could be the right time to do so.

News Souce: Times Group.