Today, Hyderabad offers a diverse range of residential options, catering to various budget ranges and buyer preferences. The home buyer is spoilt for choice – from modern high-rise apartments to spacious villas and gated communities, Hyderabad’s real estate market has something to suit every lifestyle. Hyderabad’s residential demand soared by an impressive 24% in H1 2023, compared to the same period last year. The city’s real estate market is thriving, attracting an increasing number of homebuyers with its strong appeal and promising prospects.
So, where should you look out for a home in Hyderabad?
Our latest research denotes that the locations of Kollur, Kokapet, Bachupally, Serilingampally, and Patancheru topped the charts as the most preferred neighbourhoods to reside in. These locations accounted for a major share of residential sales in the past quarter Q2 2023.
Due to the strong presence of the IT industry in the western part of the city, these residential areas are feasibly situated in the western and north-western regions of Hyderabad, and command prices in the range of INR 6,400-6,600 /sqft.
Robust infrastructure enhancing connectivity and convenience
The western and north-western part of Hyderabad has witnessed significant infrastructure development over the years. The presence of well-maintained roads, flyovers, and highways has greatly improved connectivity to other parts of the city, making it convenient for residents to commute. The announcement of upcoming infrastructure projects, such as the Metro expansion and the development of new roads, further adds to the region's attractiveness for residential development.
Locations near IT hubs emerge as preferred housing choices
The western region of Hyderabad is home to numerous IT and technology companies, multinational corporations, and start-ups. With the IT industry thriving in the region, the influx of professionals seeking accommodation in the proximity of their workplaces has driven the demand for residential properties in these areas. While living nearby reduces commuting time and stress for professionals, it also provides opportunities for networking and socializing with like-minded professionals, fostering a sense of community and support.
Not surprisingly, in 2022, locations such as Miyapur and Kukatpally towards the north-western region of the city were observed to garner the highest number of searches online for home buying. Newer neighbourhoods like Bachupally and Kompally, too, were seen to be gaining traction on the home buyers’ radar, recording a substantial number of housing-related enquiries.
Future growth prospects and quality lifestyle rank high on home buyers wishlist
A number of unique attributes and advantages characterize the preferred locations of Bachupally, Kokapet, Serilingampally, Kollur, and Patancheru. These destinations offer a diverse range of housing options, including apartments, villas, and independent houses, catering to various preferences and budgets. They also provide a desirable lifestyle with access to modern amenities, educational institutions, healthcare facilities, shopping centres, and recreational spots. While locations like Kokapet are known for upscale living with premium residential projects and high-end villas, certain areas, such as Patancheru, have gained popularity for their affordability, making them an appealing choice for first-time homebuyers and budget-conscious individuals. The ongoing and upcoming infrastructure development, like the ORR extension, have further boosted the real estate potential of these areas, boding well for the near future.
Thus, these preferred residential destinations in Hyderabad offer a well-rounded appeal, catering to the needs and preferences of diverse homebuyers.
