Why Bachupally Is An Ideal Pick If You Want Bet On Hyderabad Realty
Unless your job demands that you stay close to other areas in Hyderabad, there are plenty of reasons why you would want to invest in prime locations of the City of Nizams. But, you have to decide for yourself whether these options are affordable for you.
For instance, average property price in Hitech City stands at Rs 4,700 per sq ft. This would quality affordable for an area that has a rating of 8.5 on a scale of 10 at PropTiger.com's livability score. From Rs 4,200 per sqft in April, 2013, to Rs 4,700 per sqft now, the increase in prices has only been marginal, show PropTiger DataLabs figures. PropTiger DataLabs figures also reveals that most properties in this locality are priced between Rs 50 lakh and Rs 3 crore. By for an average Joe, this may be way too expensive.
Also read: Planning To Invest In Hyderabad In 2017? Here Are The Localities You Should Opt From
Now, if you are looking at a price benefit without compromising on the location, Bachupally can be a good alternative. Here's how:
Affordable alternative
Bachupally is 14 kilometres away from Hitech City. Localities such as Kondapur, KPHB Colony, Hafeezpet and Madhapur, which are much closer, are pricier, too. Considering that, Bachpally is your best bet. You would be surprised to know that areas farther off such as Uppal Kalan, which is about 30 kms from Hitech City, are more expensive than Bachupally. Hence, if your intention is to stay close to the city, Bachupally offers a clear advantage. The Outer Ring Road facilitates access to Pattancheru, Kollur and Miyapur.
At Bachupally, you can think about buying a plot anywhere in the range of Rs 6.5-Rs 18 lakh. Two bedroom units start at Rs 24 lakh, and depending upon the kind of amenities provided, prices may vary. On the whole, the locality boasts units in the range of Rs 24 lakh to Rs 1.18 crore. The average cost of owning a house in the locality is marked at Rs 2,900 per sq ft.
According to PropTiger.com, there is a healthy mix of properties in various stages of construction in the locality, including over 30 ready-to-move-in projects. So, you have the option to invest in a new property and move in immediately.
Also read: Is Hyderabad The New Bengaluru?
A practical location
Its strategic position makes Bachupally what could be termed a practical location.
Ganesh Aravamudhan, realtor at Sree Balaji, says: “Those who had invested in Shamshabad, banking on exemplary returns, lost hope at the end of the day. Properties (plots) were dirt cheap back then and speculations about the cost of land post the airport led to mass-buying. Nonetheless, it was a loss for most investors. Now, buyers exercise caution, and, therefore, end-users and tenants prefer the city side. There is no speculation in this case and you can see what you get at the end of the day.”
Sreedhar Reddy, former president, Andhra Pradesh Realtors Association (APRA) , and Proprietor, LANAR Realtors Pvt Ltd, says, “People working in areas like HITEC City or Gachibowli wouldn't want to get back home to areas that don't match the pace of action in and around their workspaces which is why they go in for Bachupally.”
Ear to the ground
Have made you your mind to invest in Bachupally property? Now, this is what you may need to watch out for: