Kukatpally, fastest moving real estate location in Hyderabad

HYDERABAD: Only a few kilometres away from the city’s IT hub, Kukatpally has emerged as one of the fastest moving realty destinations of the city over the last few years. Packed with a healthy mix of mid-sized and luxury homes, apart from rows of retail outlets and shopping arenas, the residential-cum-commercial belt has been attracting a thick footfall of buyers in recent times. According to market watchers, Kukatpally is expected to make the biggest contribution to the industry’s revenue collections in 2017.

USP of the locality: Proximity to the Information Technology sector coupled with the rich social infrastructure and connectivity (road and MMTS) that it offers. Now, with the metro rail scheduled to chug into this part of the town in a few months, analysts are hopeful of a further jump in sales here.

“Kukatpally caters to the needs of people across social/economic strata of society. Right from single bedroom flats to high-end homes, this area has everything. Also, apart from the IT belt, the locality is also well connected to the city’s industrial zone (BHEL and beyond). That allows buyers from various areas of work to buy/rent space here,” said G Yoganand, chairman and managing director of Manjeera Constructions Ltd. His firm has malls, residential complexes and ‘A’ grade office spaces in Kukatpally.

While Vertex Homes too has a significantly large footprint in this region –about 25 lakh square feet in total — the construction company is eyeing further expansion of its ‘empire’ here. “We are contemplating fresh ventures in Kukatpally as it is a very economically viable location,” said C G Murali Mohan, joint managing director of the firm.

According to him, properties in the realty hotspot is likely to see Rs 300-Rs 400 (per sft) jump in prices once the metro rail gets operational.

“Kukatpally has great potential to grow, particularly in the mid-sized segment, as most homes here do not cross the 2,000 sft mark. While the ready stock here isn’t particularly high, we are looking at a huge supply to be generated soon,” said Satish Vadaga, local director & head (residential services) at Jones Lang LaSalle Residential Pvt Ltd — a global real estate services firm.

He reiterated that the “rush” to the area that has seen a jump in count of malls and high-street brands lately, will see a northward movement post the launch of the metro project. “There is also sufficient land that is available here to support development,” Yoganand added.

Credits ET Realty

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