Until recently,
Hyderabad was known as a distant cousin of the glamorous IT hub Bangalore. The
scenario has changed rapidly over the last couple of years, and Hyderabad is
now giving a tough competition to Bangalore in terms of IT and ITES industries
and towering skyscrapers.
Among the various
areas in Hyderabad that have gained
exposure of real estate development, Manikonda deserves special mention. This suburb
of Hyderabad has come into prominence due to the presence of large number of IT
and ITES companies opening their offices in this region. It is considered as a
posh locality and people working in the nearby Hi-Tech City are looking to buy
flats in this region, given the ease of commutation. Manikonda is also a pretty
green city and the presence of vast expanses of open land is also a reason that
is contributing to its demand among the urban population.
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| Courtesy: Net |
Among the upcoming residential projects in Hyderabad,
Manikonda has seen the highest amount of activity, with some of the top Indian
and international firms opting to open their offices here. The average price of
property stands at a modest Rs. 4000 per square feet, and is expected to
appreciate by 10-15% by year end. The reason behind this demand is Manikonda’s
proximity to other important areas of Hyderabad including jubilee hills,
Gachibowli and Whisper Valley.
Manikonda is well
connected by TSRTC
buses from Mehdipatnam to Manikonda Marri Chettu Junction. The train station
closest to Manikonda project. The
area is well connected to Hyderabad Airport through the Outer Ring Road at Gachibowli
Junction. There is also a modern road network coming up near Pupalaguda, which
will make transportation easier to the main city.
Many educational institutions are opening
their branches in Manikonda which will likely enhance the appeal for this place
among the educated masses. The University of Hyderabad, The Indian Business
School, Rd. Reddy’s Institute of Life Sciences, Kendra Vidyalaya and
many other institutes are planning expansion in this region. The area has a
good network of schools, entertainment and medical facilities at par with the
main metropolitan city of Hyderabad.
Hyderabad is a leading city for investment in property and especially high gain in residential property and I am Niharika, to give you updates on recent property trends in Hyderabad Market
