Kompally, Hyderabad – preferred due to accessibility, affordability and connectivity says Shailender Singh, managing partner of property and real estate consultancy firm – Goodwill Coordinators.
15 Sep 2012 : Report – Times of India, Hyderabad.
Outskirts in north Hyderabad are becoming popular choices for home-buyers due to the well set up infrastructure and abundant green cover.
When Vinay Sharma shifted o Hyderabad from New Delhi, he decided to rent an apartment in the Kompally area due to affordability. `We were looking for a three bedroom apartment as my parents stay with me. We got a flat in Kompally for less than Rs 10,000,” says Sharma, an IT company employees. Three years down the line, he is all set to buy a three bedroom apartment as he believes it will be a good long term investment with Hyderabad Metro coming up and outer ring road in place (ORR).
Affordability and connectivity – these are the two key drivers of real estate market in the Kompally, Dhulapally, Gudlapochampally and Medchal areas, once considered to be the destination for large farm houses and Dhabas. Some of the biggest construction companies continue to invest in these areas. As a result, quite a number of prestigious projects are coming up in this area include A LA Mansion by Ashoka Builders, Villa Grande by Aditya Constructions, Splendid Aparna Palm Meadows, Grande by Trident Properties, The Neighbourhood by Koncept Ambience and Grand Vie by Oorjita Builders.
“Some of the projects are in various phases of construction like Aparna Kanopy Tulip spread across 65 acres. Trident Grande Phase II is coming up with 100 high-rise apartments. RK Constructions is planning 1,200 budget apartments,” says Shailender Singh, managing partner of property and real estate consultancy firm – Goodwill Coordinators.
According to him, these areas are preferred due to accessibility, affordability and connectivity. `This is 12 kms away from Paradise, 6 kilometres from Mahindra Tech Park and 7 kms from Bowenpally. ORR passes through this region and first phase of MMTS connects Secunderabad to Medchal,” he says.
While a 500 square yards bungalow with a built up area of 3500 square feet in Kondapur and Gachibowli areas can cost a whopping 3.5 crore to 5 crores. The same or superior quality bungalow in Kompally surroundings will cost 1.3 to 1.5 crore. A good apartment in Hitech City and Gachibowli areas cost a minimum of Rs. 3,000 per sft to Rs.5,000 per sft and where as in Kompally surroundings the best of apartments of same quality or better would cost Rs. 1850 to 2200 per sft .
Another advantage of these areas is that these are pure residential zones and will be a preferred destination for end users and long term investors. “Fresh air and green spaces are a guarantee in these localities. Residential development is more organized and these areas are known for fertile land and good ground water since years as compared to the rocky areas which are being converted into expensive residential destinations,” says Singh.
There are plenty of entertainment options in these areas. Many branded and non-branded eateries dot these localities. These areas also house the wellknown landmarks Runway 9, Cineplanet Multiplex and convention centres. A hypermarket is coming up in this area.
Education Institutes and Schools in this region include Loyola college, St.Martins college, C.M.R College Schools, Suchitra academy, Sadhu Vasvani international School, D.R.S International, Sree Chaitanya techno school, Unicent school, Neeraj International school, St Ann’s School and Oakridge International School.
“Located on the northern side of the city, Kompally -Mechal areas are emerging as preferred residential project centres. Apart from people who are working with companies in Gachibowli-Madhapur areas, many people from Secunderabad are investing here for a second home due to the green environment and good amenities associated with new apartments and independent houses here,” says Anand Reddy, executive director, PBEL Property Development.
Some of the healthcare facilities here include Aarshita hospital, Surekha Hospital,R.R. Hospital, Balaji Hospital and Harsha Hospital.
`The clients should cash in on the 6 months to 1 year window in these areas to invest and reap benefits in the future. People will soon stop looking at distance travelled against time travelled to work just like in the West and start living in pure residential areas to provide better living to their families,” says Singh.
Via : TOI