Driven by proximity to IT hubs, affordability, improved connectivity and proposed infrastructure developments, Bachupally in the North-west Hyderabad has become one of the most sought-after housing markets in the city.
With an existing ecosystem of pharmaceutical and IT companies, improved connectivity and proposed infrastructure projects such as Hyderabad-Nagpur Industrial Corridor (HNIC) and Investment Technology Investment Region (ITIR), the North-west region of the city has been a gainer on a the realty front. While several micro-markets such as Shamirpet, Kukatpally and HITEC City have benefitted from these developments, Bachupally is no exception.
A fast growing suburb in the Quthubullapur district, Bachupally falls under Greater Hyderabad Municipal Corporation (GHMC) and has developed as a prominent housing market. Today, a plethora of factors favor residential expansion in this micro-market. 99acres delves into locality’s growth drivers and brings forth reasons why it could be considered for residential investment.
# Commercial prospects in and around Bachupally
Host of corporate giants dot the landscape of Bachupally. Apart from reputed IT companies such as Tech Mahindra, Mouri Tech Pvt Ltd and Anantha Cybertech Pvt Ltd, a specialized economic zone (SEZ) employing 10,000 professionals is also located nearby.
Other industrial developments include pharmaceutical, apparel and manufacturing units that tailor to the occupational needs of thousands of individuals. IT hubs such as Gachibowli, HITEC City and Madhapur are also easily accessible via Outer Ring Road (ORR).
# Housing landscape
The commercial expansion has acted as a catalyst for the housing market here. With employment opportunities backed by social facilities and lower land rates, several residential projects peppered the market gradually. Presently, the locality caters to housing demand of individuals from all walks of life. The area offers a host of residential options ranging. Right from mid-sized housing units to luxury condominiums the area offers ample residential options to homebuyers. However, over the years, several encroachments and illicit developments making it imperative for homebuyers to thoroughly delve into the background and credibility of the developers along with the important documents afore finalising any deal.
Good mix of reputed and local builders have established residential ventures in Bachupally. For a home seeker scouting for opportunities here, above matrix is an appropriate guide to understand the current price trends in the sub-market. “Most of the rental housing demand arises from working professionals looking for relatively affordable accommodation, however, investors and homebuyers prefer the market owing to its capital growth. Average capital values in Bachupally have witnessed four percent hike QoQ in Oct-Dec 2016. The price of plotted developments ranges between Rs 5,000 per sq yd and Rs 7,000 per sq yd. Whereas, in Gachibowli and HITEC City, the rates range from Rs 8,000 per sq yd to Rs 10,000 per sq yd”, shares Amit Wadhwani, Director, Sai Estate Consultants.
# Modes of commutation
Bachupally offers hordes of conveyance options. Connected via ORR, it provides hassle-free access to other micro-markets of the city. The travel time from Bachupally to HITEC City and Gachibowli is approximately 20-30 minutes, depending upon the traffic situation. Several state operated buses operate to and fro on a daily basis. The road connectivity is likely to improve further with the proposed intercity bus terminal (ICBT), owned by Hyderabad Metropolitan Development Authority (HMDA).
The area is well-connected by rail network and the closest railway station is at Hafeezpet. Additionally, travelling experience of dwellers would further augment with proposed metro project, which would bolster property rates.
# Is investment in Bachupally a safe bet?
Presence of several educational institutes, healthcare centers, and grocery stores in accord with expanding commercial projects and smooth connectivity, together make Bachupally a decent housing option. Though, currently the locality suffers from slight shortage of drinking water , the department of Rural Water Supply (RWS) has proposed bulk drinking water supply to gram panchayats, municipal corporations, municipalities and gram panchayats along ORR, which would end the woes of several housing pockets including Bachupally.
Overall, developers and homebuyers are extremely bullish about the market. With present commercial set-up and aforementioned projects on the anvil realty landscape of Bachupally would witness a facelift and might result in increased property rates and investment returns.
Disclaimer: The views expressed above are for informational purposes only based on industry reports and related news stories. 99acres does not guarantee the accuracy, completeness, or reliability of the information and shall not be held responsible for any action taken based on the published information.