The upcoming infrastructure, improved connectivity, IT/ITeS expansion and affordability have increased realty prospects of Rajendra Nagar in West Hyderabad. Strategically located along the Outer Ring Road (ORR), the locality has emerged as a new housing destination in the city with increased attention from working professionals.
For those desirous to reside in proximity to IT hubs of Gachibowli and HITEC City, Rajendra Nagar is an area worth considering. From a neglected suburb to a thriving realty destination, Rajendra Nagar has undergone a massive evolution over the years. The area has become an investor’s paradise backed by burgeoning infrastructure projects and soaring employment opportunities. Affordability has also played a crucial role in changing the realty dynamics of Rajendra Nagar.
The housing market
Rajendra Nagar offers an assortment of residential opportunities to homebuyers. From gated communities, duplexes, apartments, villas to independent bungalows, there are hordes of options available. Besides, the affordable real estate is the key factor that has lured homebuyers the most. While average capital values in nearby locations such as Gachibowli and HITEC City range between Rs 5,200 per sq ft and Rs 6,000 per sq ft, respectively, the rates at Rajendra Nagar vary from Rs 3,000 per sq ft to Rs 4,500 per sq ft. Monthly rentals are also affordably priced and stand at Rs 12-16 per sq ft, against Rs 18-20 per sq ft in prominent micro-markets.
Overall, the housing market in Rajendra Nagar is mainly dominated by working populace of the neighboring IT hubs. Majority of the buyers are millennials scouting for relatively affordable offerings, sound civic infrastructure, easy access to the workplace and a healthy return on investments.
The area’s proximity to the Outer Ring Road (ORR) and the Srinagar-Kanyakumari Highway affirms smooth connectivity within and outside the city. The State government buses also ply at frequent intervals connecting residents to other destinations of the city. The Rajiv Gandhi International Airport is the nearest airport (14 km). The nearest railway station to Rajendra Nagar is Secunderabad (21 km).
Rail network is likely to improve further with a metro project on the cards. As planned, the second phase of Metro II corridor connecting Rajdurg to Shamshabad will pass through Rajendra Nagar. The development will not only boost connectivity but also magnetise buyer and tenant community.
Schools - Queens International School and Holy Mary School
Hospitals - Usha Mohan Hospital and Kasturba Nature Cure Hospital
Banks - State Bank of Hyderabad and State Bank of India
Malls - South India Shopping Mall and Inorbit Mall
The future IT hub
As per the recent announcement by the State Government, an IT cluster will be developed at Budvel-Rajendra Nagar stretch. Close to 28 companies, including some multinationals, are expected to establish their offices here. The development is estimated to generate approximately 1.25 lakh job opportunities, thereby increasing the realty demand in the area. Moreover, many global giants currently operating in Gachibowli and HITEC City are also anticipated to move here.
According to the industry reports, average yearly rentals in Rajendra Nagar have increased by 8-10 percent, and the trend is certain to stay.
Viswa Nadh, a city-based realty broker, says, “Rajendra Nagar is a rapidly-developing locality and prospective homebuyers are widely exploring different options offered by reputed developers. Currently, while the prices are on the lower side when compared to other noted areas in the city, they are sure to witness growth in the near future.”
With many projects on the cards, realty sentiment and property prices are bound to increase in Rajendra Nagar. Therefore, for investors keen to reap high return on real estate investments, Rajendra Nagar is worth considering.
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.