The real estate scene in Hyderabad has been through a lean patch since 2008. Hyderabad has underperformed on the real estate front when compared to other southern cities such as Chennai and Bangalore. A slow economy coupled with political unrest had ensured the downward spiral of this market. The emotive Telangana issue was resolved with the formation of a separate state. Hyderabad is now set to serve as the joint capital for both Telangana and Seemandhara for the next ten years. With the elections for the state assembly and the Lok Sabha over and the new governments set to take charge, the realty industry in Hyderabad is heading out of drought and towards stability.
As far as Hyderabad is considered any area that is close to the IT hub of HITECH City is in demand. This applies for areas such as Gachibowli, Kondapur, Miyapur and Kukatpally. Nizampet which is surrounded by Miyapur and Kukatpally is also experiencing this demand. It is located at a distance of 10 kms from HITECH City through the KPHB Road. This locality is situated in the Ranga Reddy district of Andhra Pradesh. It is ideally situated close to the Outer Ring Road (ORR) which is considered to be major connector in the city of Hyderabad. This is one of the reasons as to why plots in Nizampet are sought after. The ORR is at a distance of 13 kms from Nizampet.
Nizampet real estate is thriving due to several other factors as well. It is well connected to other parts of the city through the APSRTC’s bus service. There are two MMTS Hyderabad stations located near this locality. They are the Hafeezpet railway station and the HITECH City railway station located in Kukatpally Housing Board. The Hyderabad Metro will also add value to the properties in Nizampet. The nearest metro station to Nizampet will be located in Miyapur on Line 1 which begins from Miyapur and ends at L B Nagar. The metro brings with it easy connectivity to other parts of the city and any area that has metro connectivity sees an increase in property rates.
Nizampet area is preferred by those who are working in the IT hubs that surround this locality. Apartments in Nizampet are priced well below those that are found in localities such as Miyapur and Kukatpally. The rates in Kukatpally fall anywhere between INR 2800 and 4300 per square feet while at Miyapur the rates are anywhere between INR 2800 and 3500 per square feet depending on the amenities on offered. This is not the case with Nizampet where property rates are affordable. The going rate for properties in Nizampet fall anywhere between INR 2400 and 3100 per square. This makes Nizampet a great affordable property destination. Those looking to rent properties in this area are also at a higher advantage as the rentals in Miyapur and Kukatpally are far more than those in Nizampet.
Besides being affordable, the area has good social infrastructure. There are educational institutions and hospitals of good repute present in this area. Since its neighbours Kukatpally and Miyapur are known as shopping destinations, those living in Nizampet also get to enjoy the facilities present in these other areas. Taking all these factors into account it will not be wrong to say that if one comes across apartments for sale in Hyderbad and can afford it, one should most definitely pick it up.
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