West Hyderabad has emerged as a residential and commercial destination backed by IT growth and service professionals buying properties in this part of the city.
Presence of IT companies, Special Economic Zones (SEZs) and availability of commercial space have led to an increased demand for both residential and commercial properties here, making it a popular residential destination of Hyderabad.West Hyderabad is a growth corridor of the city owing to its employment hubs and established social and physical infrastructure.
The presence of prominent locations such as Hitec City and Gachibowli, many IT professionals prefer to buy houses in this area.Top localities in this region include Hitec City, Manikonda, Gachibowli, Kondapur and Banjara Hills. These ride on connectivity via the Nehru Outer Ring Road, Mumbai Highway, metro and railways.
As per Magicbricks data, supply of apartments is maximum with 60-75%. Independent houses, villas and a few plots are also available. The sizes of 2BHK properties vary between 800-1400 sqft while 3BHK units are of 1400-2500 sqft.
Below are the prices in these localities:
* Hitec City- Rs 7,200-8,000 per sqft
* Gachibowli- Rs 6,600-7,000 per sqft
* Kondapur- Rs 6,500-7,000 per sqft
* Manikonda- Rs 4,600-5,000 per sqft
* Banjara Hills- Rs 7,100-7,500 per sqft
As per a recent study conducted by Magicbricks, prices of Kondapur have increased by 2.3%. Many reputed developers are constructing in this corridor.