Hyderabad Proceeds to Become a Hub for Affordable Housing Segment
Hyderabad, a city that is paying more emphasis on developing affordable housing is slowly moving towards becoming a hub for individuals who want to invest in low-costing homes. While the city’s real estate scene is changing thanks to the political clarity coming in, Hyderabad is now emerging into a buyer centric market. Dotted by many luxurious projects, there are a number of apartments for sale in Hyderabad that fall between the affordable and mid-segment section. Developers here are now cashing on this trend and are targeting working professionals who want to own such low-budgeted homes.
Apart from just restricting themselves to creating luxurious and plush abodes, builders in Hyderabad are now keen on building homes that cater to the EWS (Economically Weaker Section). If you are one of those who are hunting for a home within the city limits but are on a stringent budget, areas like Miyapur, Manikonda and Sainikpuri have many affordable housing units that range between Rs 2,300 to 3,200 per sq. ft.
Gone are the days where one would be forced to live in the outskirts of the city if you have an economical budget. Today its all about providing affordable housing with all the basic amenities like educational and healthcare facilities being just a stone throw away. Targeting white-collared professionals, Hyderabad Real Estate developers have created a number of affordable housing units that have mushroomed in localities like Manikonda and Miyapur thanks to its close proximity to IT parks and HITEC City. Fueling great connectivity, (located adjacent to the Outer Ring Road), a 3BHK home in Manikonda could cost anywhere between Rs 2.200 to 2,900 per sq. ft.
Affordable apartments in Hyderabad are not just restricted to suburban localities, premium residential localities too have their share of low-costing homes, And one such area in Sainikpuri. Connecting major areas of Hyderabad via roads like the ECIL Cross Road and Tirumalgiri Road, Sainikpuri has gone on to become the ultimate place for IT professionals who are looking for homes that ranges between Rs 30 to 40 lakhs. And with the area being surrounded by schools, eatery joints, malls and hospitals, investing in a home here would be a fruitful option. An apartment that is spread over 1,000 square feet here could cost anywhere between Rs 2,000 to 2,800 per sq. ft.
If buying a unit is not your call, you could always consider investing in land. Residential plots at affordable prices makes for the perfect investment opportunity. Areas within the city limits like Bachupally, Shamshabad and Chanda Nagar are a huge favourite amongst investors and developers because of its availability of large land parcels. Despite being within city limits, these areas offer great connectivity.
Bachupally’s close proximity to developed areas like Nizampet and Kukatpally are driving people to invest here. The locality is a home to many schools and colleges making Bachupally a prefect locality for families to reside in. Apart from this the vicinity is well connected to the city by APSRTC buses. A land that is spread across 1,000 in Bachupally could hover anywhere between Rs 600 to 1,100 per sq. ft. To ensure development is spread throughout the area, builders and investors offer facilities like water, electricity, parking and underground drainage.