Hyderabad's suburbs are in high demand for open plots, nowadays. It has picked up a pace since post-COVID in areas like Medchal, Adibatla, Ghatkesar, Nallagandla, Serilingampally, Patancheru, Boduppal, etc.,
Before the real estate boom two decades ago, for most middle-class families acquiring a home was a wild goose chase. However, the situation changed when youth were able to land well-paying jobs due to the boom in the IT and ITeS sector.
This revolutionised the entire approach to property. Even today, real estate fascination is driven by young earners and by those who have been abroad for education. Once they have begun earning, they have started investments which yield them higher returns.
When the investors realised property investment was a safe bet and would yield higher returns than savings, their aspirations were joined by those without a home who are driven by the desire to call on their own.
There has been a huge focus on built-up spaces in real estate in the beginning. But recently, it took a turn as most people realised the benefits of investing in open plots. The city of Hyderabad is experiencing an increase in real estate investments due to its rapid development.
It is experiencing growth in every direction ( East, West, North, South) and has become a hot investment destination for even corporate companies as it is taking over new frontiers every day and it continues to accelerate, and development knows no bounds.
The proposed world's largest pharma city, IT and ITes corridors, International Airport, highly commutable Outer ring road to many neighbouring suburbs, Special Economic Zones (SEZs) etc., has inspired the real estate developers to switch sales from built-up spaces to open plots as the immediate peripherals of the city popped up with vast areas of open spaces.
It's unlike earlier decades when large tracts of open land used to be plotted and sold individually, now several big developers are joining the bandwagon. Post-pandemic, some construction companies and property consultants have witnessed that plotted developments have gained significant traction as an investment asset class.
Here's a look at a few areas in Hyderabad that are considered popular locations for open plot investments:
Kompally:
Kompally is located near Outer Ring Road (ORR) and has an advantage in terms of location. As well as being close to the airport and railway station, it is well connected to the city. It is likely that in the future, connectivity will improve, resulting in a better link between Gachibowli and Shamshabad.
The residents of Kompally also have access to healthcare, educational institutions, and shopping centres. A simple life is what awaits those considering Kompally. It is also an excellent location for those working in Begumpet, Banjara Hills, and Hitech City.
Shamirpet:
In the North Zone of Hyderabad, Shamirpet is a fast-growing residential area. Due to its proximity to mainstream areas, Shamirpet has gained a lot of traction in recent years for its infrastructure development.
This has created a boom in Shamirpet real estate. Properties in Shamirpet are numerous, and more are on the verge of completion and occupancy. The aspect which makes Shamirpet a wise choice for investment is its infrastructure.
Commercial complexes, including supermarkets, schools, restaurants, fitness centres, and banks, are abundant, making Shamirpet properties the first choice of many buyers.
Other major areas include Adibatla, Bhanur, Maheshwaram and its surroundings, Sanga Reddy and its surroundings, and Shankarpally surroundings. In the future, it is possible that the value of residential structures and plots in other areas will increase.
Here is a caution for the investors who think of buying a plot, though the developers claim that most ventures here have all the necessary approvals from the HMDA, it is advisable to verify and scrutinise all the documents to avoid future litigation. It is even advisable to deal with real estate developers or agents who have registered with Telangana, RERA.
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