How Hyderabad Metro Will Fuel Demand For Real Estate In Kukatpally
Kukatpally's real estate market is all set to see a transformation owing to a station of the Hyderabad Metro that becomes operational today, November 28. The market, since the Metro station was announced, has been witnessing a constant rise in demand for properties from both homebuyers and those looking for rental properties. This constant movement has now transformed the property market of Kukatpally from an affordable area to one of the upmarket neighbourhoods of Hyderabad. Along with a Metro station, the locality also enjoys smooth connectivity to IT hubs, including HITEC City, Gachibowli and Madhapur.
Kukatpally is an old housing board colony in suburban Hyderabad, developed by the Andhra Pradesh government. As the locality now comes under the jurisdiction of the Greater Hyderabad Municipal Corporation, the basic infrastructure and civic amenities here are regulated by this body, unlike other suburban areas where the municipality is responsible for the development. This makes it more preferable among homebuyers.
Corporate giants love it
Since the Metro was announced, the commercial leasing market of Hyderabad has witnessed a huge jump and a large chunk of absorption has been along Kukatpally and nearby areas. The demand for commercial space in the locality is expected to grow stronger in future.
Lower security deposits
The area has always been on the radar of real estate investors due to its locational advantages and now, the Metro connectivity. Renters prefer Kukatpally over other rental markets including, HITEC City and Gachibowli, because monthly rental, as well as security deposits, are comparatively lower here.
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Developers are high on it
With the Metro announcement, several real estate developers came up with residential projects at different price points. Projects here offered mid-sized as well as luxury homes, catering to the needs of homebuyers coming from different economic backgrounds.
The newly-built Hyderabad Metro will enhance the locality's connectivity with other important hubs, including ESI, Lakdi Ka Pul, SR Nagar, Nampally, etc. The locality is already connected via a direct road to the IT hub of Hyderabad, making it a favourable choice for those working in these areas. Moreover, the National Highway-9 that connects Hyderabad with Pune passes through Kukatpally, connecting it to the main city.
If you are an investor
Kukatpally can be a great investment destination for you if you want to earn ensured rental income. The area is expected to witness price rise due to an upcoming Metro connectivity. The Kukatpally Housing Board Colony is a part of Corridor 1 of Hyderabad Metro, giving the locality an edge over other neighbouring areas. Currently, the property prices here vary between Rs 4,000-5,000 per sq ft. A 2BHK flat is available at a starting price of Rs 40 lakh while a 3BHK apartment will cost you around Rs 56 lakh, depending on the construction stage and the developer.