What Is Driving Real Estate Business In Hyderabad's Chanda Nagar?
Globally ranked as one of the best in terms of quality of living, Hyderabad has won the hearts of not just homebuyers from within and outside the city but also NRIs and expatriates. It has a temperate climate and lesser air pollution. Also, the growth of IT hubs has attracted the working migrant population which gives a new dimension to the city's cosmopolitan culture. A suburb in south of Hyderabad, Chanda Nagar offers commercial spaces, rental properties or ready-to-buy homverage price of a residential property is Rs. 3,750 per sq ft. This section of Hyderabad's suburbes, as investment options.
PropGuide explores the major growth drivers for this upcoming micro-market in Hyderabad.
Investment options in Chanda Nagar
Recently, the locality has seen new launches of over hundreds of affordable properties. The average price of a residential property is Rs. 3,750 per sq ft. This section of Hyderabad's suburb has gained attention for its multi-community facet. The inhabitants of this region not only include native residents but also migrant populations from other towns, software professionals as well as government employees.
Aparna Constructions is a popular developer operating in the locality. The company has launched a 7.13-acre gated community project named HillPark Silver Oaks. It comprises spacious 2 and 3-BHK homes sized between 1,240 sq ft and 1,700 sq ft.
Commercial and IT hubs in Chanda Nagar
A commercially developed area, Chanda Nagar is in proximity to renowned companies such as BHEL, Bajaj Electronics, Reliance Digital, etc. Big MNCs and IT firms like Microsoft, Wipro, TCS, Infosys, Capgemini, Polaris and Honeywell, are situated nearby, making Chanda Nagar a preferred location for techies.
Demand for rental properties in Chanda Nagar is reasonably high. The average rental price in Chanda Nagar is Rs. 20,090 per month. The prices start from 15,500 for a 2-BHK apartment.
Civic and social amenities in Chanda Nagar
The area possesses well-developed social infrastructure. It includes retail outlets, branded stores, hospitals, malls, supermarkets and ample entertainment options. One can indulge in typical south Indian-Hyderabadi cuisine at numerous food joints and restaurants. There are reputed educational institutions viz. the Indian School of Business and the Indian Institute of Technology which is just a 40-minute drive from Chanda Nagar. Hyderabad is expected to witness a new wave of 'mall culture' as a large number of retail spaces are expected to be launched soon. Among a host of localities, Chanda Nagar will also benefit from this development.
Chanda Nagar also has uninterrupted power and water supply. The Hyderabad Metropolitan Water Supply and Sewerage Board is undertaking the task of laying pipelines to improve the water connection in several areas, including Chanda Nagar.
Transportation in Chanda Nagar
Chanda Nagar is connected with other popular localities in the city like Miyapur, Kukatpally, Gachibowli and HITEC City. Transport services within the locality, is being provided by rickshaws, taxis and bus services by state-owned TSRTC. Local train services can be availed through MMTS train service.
Nestled on the Hyderabad-Mumbai NH road, the neighbourhood is well-linked to areas within and outside the city via a strong rail and road network. The Lingampally Railway Station is just at a walkable distance from Chanda Nagar. The Rajiv Gandhi International Airport is also easily accessible from the region.
The proposed Metro Rail project in the city, has led the Greater Hyderabad Municipal Corporation to actively concentrate on the development of foot overbridges and similar projects, in the locality. A road project is underway to boost connectivity between the NH 9 and Navayuga SEZ on the Old Mumbai Road.