Manikonda: An Affordable Alternative Homebuyers Can Turn To

Buyers are showing interest in Hyderabad's real estate as the market is most affordable when compared to other Tier-I cities such as Bengaluru and Chennai. This creates a demand for property in and around the city. Manikonda, Bachupally, Puppalaguda, Uppal, Narsingi, LB Nagar and Nanakramguda are among those localities that are steadily garnering home buyer's attention.

Manikonda is listed amongst the top ten favourite localities in Hyderabad. Apartments in Manikonda are preferred by IT professionals as the locality is in proximity with IT hubs. Some of the IT hubs close to Manikonda are Hitec City, Nanakramguda, Gachibowli and Raheja IT Park.

Usually, investors look for localities that have sound infrastructure and assures good returns. From this point of view, Manikonda is a great option as the locality has a sound infrastructure with easy accessibility to the railway station and the airport. The key thoroughfares in the locality are Outer Ring Road and Indira Gandhi flyover. Along with this, property prices in Manikonda have witnessed an increase from Rs 4,645 per square foot (sqf) to Rs 4,766 per sqf over the period ranging from January 2018 to September 2018. The supply constraints will further lead to an increase in the property prices in Manikonda.

Manikonda has many residential colonies such as, Panchvati, Bhagyalatha and Laxmi Nagar.  There are 24 under-construction projects and 139 ready-to-move-in projects.

For those looking for affordable options can move to Manikonda. The price of 1BHK, 2BHK and 3BHK units in Manikonda ranges between Rs 20 lakh and Rs 1 crore.