Gachibowli, Kukatpally witnessing more home buyers

 

 

Gachibowli and Kukatpally offer certain distinct advantages, making these suburbs hot favourites of residential property seekers.

Uday Kumar resides in Hyderabad and is now looking for an apartment in Gachibowli. He says on a real estate portal forum, "I searched through a lot of properties and finally booked a flat in Gachibowli. The property is located at a place which provides easy connectivity to other areas of Hyderabad. The modern amenities provided here are quite attractive."

Gachibowli is one destination in the city that is located on the developed suburbs of Rangareddy district. It lies in the North-West of Hyderabad and is a software hub due to the presence of large IT giants. It is only 5-km from Hitec City, one of the major IT hubs in Hyderabad.

Sathya Bhagat, a theatre artist says, "Earlier we were staying in Attapur. We bought an apartment in Gachibowli in 2012. After purchasing, the commuting to my workplace (near Hitec City) actually became much easier. Many apartments are coming up in the vicinity with decent amenities."

The most available property type in this locality is multi-storey apartments with an availability of over 60 percent. There is demand for villas and residential plots as well. According to the latest figures available with a real estate portal's research, the residential inventory for both the property types is limited to 15 and 12 percent, respectively.

Why people choose to buy multi-storey apartments?

Established social infrastructure could be the attraction factor for buyers to purchase apartments in Gachibowli. Within a 3-km radius, a property buyer can easily find shopping malls, schools, hospitals, grocery stores, restaurants and many ATMs. There is demand for builder floor apartments as well in the locality but property buyers prefer multi-storey apartments due to space and luxurious facilities.

Many such apartments have coffee lounge, club house, bar lounge, dance studio and swimming pool. In fact, the interior finishing is excellent and materials used to build such structures are of a fine quality. The building materials usually are of matt finish, ceramic tiles, vitrified tiles, imported marble flooring, water proof paints and other modern techniques that produce fine fittings and finishings. Due to such facilities, people have started preferring multi-storey apartments that make living a modern and classy experience.

The road infrastructure in Gachibowli is also well-developed and has Gachibowli Flyover that was built a few years back. It is near the Outer Ring Road (ORR). The area has easy access to transport as the Telangana State Road Transport Corporation (TSRTC) buses ply on the road.

The area has Multi-Modal Transport System station (MMTS) in Hitech city just 7-km away. Bus stations like the Mahatma Gandhi Bus Station (MGBS) are 20 km away, Jubilee Bus Station in Secunderabad is just 24 km away and the Secunderabad Railway Station is at a distance of 25 km. In fact, the Rajiv Gandhi International Airport (RGIA) is also 32 km away from Gachibowli, which makes the area convenient for commuting.

Popular configurations

The availability for 3BHK units in the area is high (60%). The average price for such apartments is between 40 lakh to 1 crore and above. This is because the high income IT professionals are purchasing property in this locality. "People working in Hitec City want to reside in nearby localities and Gachibowli is nearest to the IT centre. It is convenient and close to both Madhapur and Nanakramguda IT parks," says Praveen Kumar, who owns a property in this locality.

In addition, the availability of 2 and 4BHK units is 27 and 13 percent, respectively. "Gachibowli has a high supply of under-construction projects. The locality majorly offers apartments followed by villas," Kumar adds.

Moreover, in the builder floor category, 54 percent are 2BHK units, 33 percent share is for 3BHK units and 13 percent is for 4BHK units.

Below is the price structure for multi-storey apartments available in Gachibowli:
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The saleable area in Gachibowli for 3BHK units is within 1,750-1,999 sq ft, which comprises 24 percent of the total share. The saleable area is considered the super-built up area inclusive of carpet area and common spaces such as staircases and lifts.

For 2BHK units, the highest saleable area is 1,150-1,349 sq ft. Nearly 50 percent properties are available within this size followed by size ranges 950-1,149 sq ft and 1,350-1,549 sq ft that comprises 30 and 20 percent, respectively.

What Kukatpally has to offer?

When compared to Gachibowli, Kukatpally is preferred by many IT professionals as it comes cheaper monetarily. The public transport is good as mentioned by Anand Nath, who owns an apartment in the area. He says, "Kukatpally is a prime location. It is centrally and strategically located in Hyderabad West region. It has good schools, hospitals, restaurants and neighbourhood in this region."

In Kukatpally, both builder floors and multi-storey apartments can be found in abundance. Today, a real estate portal research says that the locality witnesses healthy demand for both buying and renting accommodation. About 68 percent share of residential inventory belongs to the multi-storey apartments and 2BHK units (comprising 67%) have the biggest supply share.

Also, there is rain water harvesting facility in many multi-storey apartments. Besides this, these apartments have a gas pipeline, water storage and swimming pool facility including others. People prefer afford able housing and as of now, Kukatpally is one such area offering this type of housing. The average price range for multi-storey apartments is within 20 to 80 lakh and above.

However, the average price range for builder floor apartments is between 20 lakh -1 crore.

Following is the share of builder floors and multi-storey apartments in Kukatpally:
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Why Kukatpally?

Kukatpally's social infrastructure has grown immensely over the years. As Hitec city is nearby, people prefer this location for residence. The ORR is just 25 km away and Hitec city is at a distance of 8-km only. Easy access to the Telangana State Road Transport Corporation (TSRTC) helps the area to be well-connected to other parts of Hyderabad.

The airport (Rajiv Gandhi International Airport) is 42 km away from Kukatpally. In fact, railway stations such as Secunderabad Railway Station are at a distance of 15 km, Jubilee Bus Station is 13 km away and the MMTS railway station is at a distance of 5 km. In fact, the Mahatma Gandhi Bus Station is at a distance of 20 km.

Due to such facilities, the working class prefers staying in this locality as it ultimately suits the pocket.

Popular configurations

In the given chart, it is observed that the availability of 2BHK units in builder floor apartments is the highest. It consists of 81 percent share. These types of houses have reserved parking and an individual can always customise the property according to their needs and tastes.

According to the chart, the availability of 2BHK units in multi-storey apartments comprises 67 percent share. Moreover, for 2BHK units, the most available saleable area is within 1,150-1,249 sq ft in the locality. It comprises 30 percent share. Besides this, the others are 1,050-1,149 sq ft and 950-1,049 sq ft that have 29 percent and 21 percent share, respectively.

The saleable area of 3BHK units is within 1,500-1,599 sq ft which comprises 28 percent share of the total sale. It is followed by 1,300-1,399 sq ft with 17 percent share and 1,400-1,499 sq ft with 16 percent share.

Buyers seem interested in purchasing properties in both Gachibowli and Kukatpally. The supply of properties is high in these localities. We hope that the market picks up faster and buyers show further interest in buying properties this New Year in Gachibowli and Kukatpally areas.

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