Property values in Telangana’s capital, Hyderabad, have been growing consistently, after the Andhra Pradesh state was bifurcated in 2014. Housing.com data show that the average property values in the city are now slightly higher than those in Bengaluru or Chennai.
At the end of the July-September period of 2020, average property rates stood at Rs 5,593 per sq ft in Hyderabad, after undergoing a 6% increase in the past one year, while value growth has been nearly flat in the other two cities.
However, time has had not much effect, on some localities that have been counted among the most posh areas in Hyderabad, even though the city has numerous affordable housing options, as well. In this article, listed are five posh residential areas in Hyderabad, where owning a property is an indication of one’s status symbol.
See also: Cost of living in Hyderabad
1. Banjara Hills
Traditionally counted as the most coveted address in Hyderabad, Banjara Hills is located towards the north-west part of the city.
Even though the area has managed to maintain its serene and peaceful surroundings in a city that is noisy, with high-speed developments, Banjara Hills hosts some of the city’s best eateries, shopping complexes and educational establishments.
Since there aren’t any new developments in this well-established area, properties can only be bought in the secondary market, as and when it is available.
With security concerns taking centre-stage in the backdrop of the Coronavirus pandemic, more upper class facilities are seen shifting base to this serene location, while shedding assets of larger sizes in comparatively affordable localities.
Properties for sale in Banjara Hills: Premium properties in this upscale neighbourhood can fetch up to Rs 75 crores.
Properties for rent in Banjara Hills: Rents in this locality could go up to Rs 4.50 lakhs per month.
Check out price trends in Banjara Hills
2. Jubilee Hills
Another one of the expensive residential areas in Hyderabad, Jubilee Hills is home to several actors, politicians and business tycoons. As there are no new developers in this well-established area due to unavailability of land, homes are available, if at all, in the secondary market. Deals are few and far between, with values in multiple crores.
Properties for sale in Jubilee Hills: Based on the listings available on Housing.com, premium properties in this upscale neighbourhood are currently available for an asking price running up to Rs 40 crores.
Properties for rent in Jubilee Hills: Rents in this locality could go up to Rs six lakhs per month.
Check out price trends in Jubilee Hills
Well-paid IT professionals invariably choose this locality to live, because of its proximity to the city’s tech hubs. A suburban locality in the Serilingampally Mandal, Gachibowli also hosts some of the best sports establishments in the city.
Owing to its future potential, the appetite for property in Gachibowli is strong among end-users and investors. Thankfully, there is no lack of new supply to meet this demand either.
Properties for sale in Gachibowli: Premium properties in this upscale neighbourhood can command Rs 50 crores.
Properties for rent in Gachibowli: Rents in this locality could go up to Rs 2.50 lakhs per month.
Check out price trends in Gachibowli
4. HITEC City
Another upscale locality spread across 200 acres, HITEC City lies at a close distance of only 2 kms from Jubilee Hills. This well-planned area, founded by former Andhra Pradesh chief minister N Chandrababu Naidu, was inaugurated by the then Indian prime minister, late Atal Bihari Vajpayee, in 1998. An abbreviation for the Hyderabad Information Technology and Engineering Consultancy City, HITEC City has a self-explanatory title. Apart from being the IT nerve centre of the city, this area is also a hub of healthcare and financial services.
As new developers are found in plenty, buying a premium property in this locality is not as difficult as in Banjara Hills or Jubilee Hills.
Properties for sale in HITEC City: Premium properties in this upscale neighbourhood can fetch Rs 15 crores.
Properties for rent in HITEC City: Rents in this locality could go up to Rs 1.50 lakhs per month.
Check out price trends in HITEC City
Host to many upscale apartment complexes, Manikonda has emerged as a top choice for young and affluent professionals. The area hosts the head offices of various IT giants along with Lanco Hills, a USD 1.5-billion high-rise luxury residential project.
This location is another favourite of high-income professionals and businessmen, because of the ease of access it provides to Hyderabad’s IT hubs and the availability of swanky properties with breathtaking interiors.
Properties for sale in Manikonda: Premium properties in this upscale neighbourhood can fetch Rs 15 crores – Rs 20 crores. However, rates may touch as high as Rs 80 crores at Lanco Hills.
Properties for rent in Manikonda: Rents in this locality could go up to Rs 2 lakhs per month.
Check out price trends in Manikonda
How much does a property in Hyderabad's Banjara Hills cost?
Premium properties in this upscale neighbourhood cost around Rs 75 crores.
How much does a property in Hyderabad's Jubilee Hills cost?
A property in Hyderabad's Jubilee Hills costs around Rs 40 crores.