Details about Hyderabad city
Hyderabad is fast turning in to a vibrant and cosmopolitan city comparable to other metro cities of India such as Delhi and Mumbai. The growth which the city has seen over the last few decades has been majorly because of the fact that Hyderabad emerged as one of the IT hubs of the country, there are few other reasons too. Today Hyderabad offers top notch living standard and premium lifestyle to its inhabitants. This is only slated to be bettered in the near future with big ticket infrastructure and lifestyle projects in the pipeline. The major projects being; phase I of the metro which is being developed with an estimated investment of 10,000 crores, 8 lane outer ring road and numerous flyovers. For business and people alike Hyderabad is the entry point in to South India. Hyderabad scores highly on almost all indices, be it cost of living, connectivity, affordability, economy, comfort and many others. No wonder Hyderabad is growing and the real estate market of Hyderabad is booming.
Localities and areas in Hyderabad city
Almost all of Hyderabad Real Estate is developing at a brisk pace. Just like any other big city in Hyderabad too there are various localities such as the posh VIP enclaves, the affordable area and the under-development areas on the outskirts of Hyderabad city. But due to rapid development even these under-development areas on the outskirts will be deep inside the city soon. Hyderabad also touted as Cyberabad is known for Charminar, Hyderabadi Biryani, Pearls and elite localities such as Banjara Hills and Jubilee Hills where the rich and powerful of the city and also the state reside. Other well-known localities include areas such as Begumpet, Manikonda, Kukatpally, Nallagandla, Gachibowli, Miyapur, Uppal, Bachupally, Abids and more. These places are mostly residential urban centres of Hyderabad. These places are also favoured destinations for bungalows, villas, apartments in high-rises when investing in property market in Hyderabad city. Many of the above mentioned regions have seen tremendous growth and immense development only in the recent past.
Real estate in Bachupally and Gachibowli
Two places in Hyderabad city that are high on property buyer’s wish list are Bachupally and Gachibowli. Gachibowli is situated in the Ranga Reddy District of Hyderabad. The place is nearby to the HITEC City, which is one of the major IT hubs in Hyderabad. No surprises then that the area has seen lots of growth in recent past and properties here are in high demand. There are major IT companies, educational institutes, hospitals located in Gachibowli. Thus Gachibowli provides a great option for potential property buyer. On the other hand Bachupally is located around 9 kilometres away from Gachibowli. Bachupally is another area that is close of the IT hub of Hyderabad. The place has seen extraordinary growth in the last few years. There are more than 10,000 people who are employed in and around Bachupally area with giants such as Dr. Reddy’s Laboratories and Tech Mahindra Training Center located here.
Comparison of Bachupally and Gachibowli property and rates
Both Bachupally and Gachibowli areas are high on radar of any potential property buyer in Hyderabad. Also there are plenty of options available in both the places when it comes to selecting a property. A potential buyer also has options of choosing between various property options such as a bungalow, villa, apartment or a flat both at Bachupally and Gachibowli. Depending upon the choice the property price will vary at the both the destinations. In Bachupally at the lower end of the spectrum a potential buyer may be able to land a property at around 1600 rupees per square feet. At the higher end of the spectrum for a villa or so the prices can go up to 4000 rupees per square feet. So, on an average property rates in Bachupally can be calculated to around 2800 rupees per square feet. But this is subjective and rates may vary from project to project and property to property. Similarly in Gachibowli is a bit costlier option with property rates starting at 3000 rupees per square feet and going up to 4500 rupees per square feet. Thus average rate here is around 3900 rupees per square feet.