Nallagandla: The realty cynosure in West Hyderabad

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Nallagandla

Nallagandla, in the western corners of Hyderabad, has emerged as one of the promising real estate destinations in the city backed by affordability, proximity to key thoroughfares, IT centres, educational institutions and upcoming infrastructure projects.

Earlier a lesser-known suburb, Nallagandla in the western fringes of Hyderabad has evolved to be a coveted real estate destination, particularly for the migrant millennial workforce. Geographically located in the vicinity of the Financial District (13 km) and IT hub of Gachibowli (9.7 km), and important thoroughfares such as Old Mumbai Highway, and Outer Ring Road (ORR), Nallagandla has become the most-sought-after choice of end-users and investors looking for a real estate investment involving a low to mid budget. The average weighted capital values in Nallagandla are currently pegged at Rs 4,850 per sq ft.

Property market

The IT revolution has been a key game-changer for Nallagandla’s property market. Not very long back, it was just an outlying area along the NH-48, but smooth accessibility to global giants such as Wipro, Infosys, and Microsoft, and high-street market of Jubilee Hills has filliped its realty fortunes and made it one of the most-preferred realty hubs after Gachibowli and HITEC City. Besides, strategic location, competitive property prices have been another potential demand driver for the area. The average capital values in Nallagandla, which hover around Rs 4,850 per sq ft, are 10-20 percent lower than the nearby popular locations such as Kondapur, Gachibowli, and HITEC City.

Localities

Average Capital ‘Asks’ (per sq ft)

Average Rental ‘Asks’ (per month)

Nallagandla

Rs 4,850

2BHK- Rs 15,000-17,000

3BHK- Rs 23,000- 26,000

Gachibowli

Rs 5,250

2BHK- Rs 14,000-15,000

3BHK- Rs 18,000- 22,000

Hi-Tech City

Rs 5,950

2BHK- Rs 18,000-19,000

3BHK- Rs 27,000- 33,000

Kondapur

Rs 5,550

2BHK- Rs 14,000-15,000

3BHK- Rs 20,000- 25,000

*Capital and rental values are average of listings posted on 99acres.com

Infrastructure developments

Present infrastructure

The area is replete with a host of international education institutes such as Indus International School, and the SERRA International High School, and multi-speciality hospitals like The American Oncology Institute, and Citizens Hospital. Multiple entertainment options such as GSM mall, FTA shopping mall and Atrium mall are also located nearby.

Connectivity links- In addition to ORR, there are multiple service roads such as Infocity Road, and Aparna Sarovar Road that ensure a smooth ride to nearby micro-markets. Also, Old Mumbai Highway, that runs across the breadth of the city is only four km away from Nallagandla and connects to key pockets of Chandanagar, Kukatpally and Ameerpet. For metro commuters, nearest metro station is Miyapur (9 km) that connects to LB Nagar and covers 29 km.

Upcoming infrastructure

The Telangana government has approved 13 growth corridors along the 158 km ORR. As per the norms, a development corridor stretching one km on either side of the ORR has been premeditated to focus on residential and commercial expansion categorically.

Commercial developments

“Apart from the multiple IT/ITeS companies expanding their footing in the city, numerous other industries such as Banking, Finance and Pharmaceuticals have also expressed their interest in establishing their firms in and around Nallagandla. Retail developments are also intensifying at a rapid pace. For instance, a three lakh sq ft of retail space has been planned in the area along with some warehouse developments. Availability of large tracts of land at affordable rates has played a significant role in triggering commercial developments in the area,” Rakesh Reddy, Director, Aparna Constructions.

Investment potential

Despite political instability owing to the State elections, the average capital values in Nallagandla showcased a three percent growth, QoQ, in Oct-Dec 2018 and a steep rise in Jul-Sep 2018 when compared to the preceding quarters. The consistent growth in the average weighted capital values from Rs 3,950 per sq ft in Jan-Mar 2018 to Rs 4,850 per sq ft in Oct-Dec 2018 is the clear indicator of the burgeoning popularity of the locale.

 

 

Commercial expansion in conjunction with infrastructure developments and affordability has created high residential demand, and the trend is likely to grow in near term. The upcoming growth corridor is expected to create more commercial opportunities, which will boost housing demand further. Holistically, Nallagandla is one of the most attractive and one of the safest investment options worth considering in the West Hyderabad.

*99acres Insite Report Oct-Dec 2018


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.


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