Bachupally fastest developing residential area in Hyderabad

Bachupally fastest developing residential area in Hyderabad
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Bachupally fastest developing residential area in Hyderabad

Highlights

Hyderabad is a hub of information technology (IT) industry in the country and most of the techies working in the city are looking at Bachupally as a preferred residential destination.

Hyderabad: Hyderabad is a hub of information technology (IT) industry in the country and most of the techies working in the city are looking at Bachupally as a preferred residential destination. This suburb in Medchal-Malkajgiri district has become popular over the Western part of the city, thanks to the affordable rates, locational advantages and infrastructural developments.

Real estate sector insiders say that Bachupally is the fastest developing residential area in Telangana. The property prices in this area have more than doubled over a period of last 4-5 years. Till 2014, open plots were available here. Later, the land prices started skyrocketing with a number of standalone apartments and gated communities mushrooming in the area.

The villas that were available at a cost of Rs 75 lakh five years ago are now being sold at Rs 1.5 crore, whereas new villa projects are not available in Bachupally. The flats in apartments are being offered at a price of Rs 5,000-5,500 per sft depending on amenities offered and reputation of the builder. The rates have gone up Rs 600-700 per sft in the last couple of years.

Despite having several housing projects, there is no inventory overhang in Bachupally even during the pandemic period. This demand for the real estate sector inthe area was mainly due to the proximity to Outer Ring Road (ORR), educational institutions, engineering colleges, universities, metro station, MMTS train station, hospitals and pharmaceutical industries.

Bachupally is well-connected to the IT corridor and to the other places of the city. Local says that one can reach IT corridor from this area in 20-30 minutes, using the ORR. The roads in this area are free from water logging when it rains unlike nearby city spots like Kukatpally, Pragathi Nagar and Nizampet areas, where such problems are common with the onset of monsoon.

Lakshmi Bai, wife of a government employee, says: "After suffering for five years in a congested locality at Kukatpally, we have shifted to a standalone apartment in Bachupally for better amenities. It was a great relief for us to see there is no groundwater scarcity in summer season and drainage overflow in rainy season."

Closer to a number of institutes offering studies from KG to PG, Bachupally is an education hub of the region. Oakridge International School, Delhi Public School, Kennedyand Geetanjali are some of the top schools located here.Junior colleges like Narayana, Sri Chaitanya, Gayatri and Bhashyam, while engineering colleges such as Gokaraju Rangaraju and BVRIT are also present.

J Veerendra, an IT employee from the city, said: "Our family preferred to buy a home in Bachupally over Hitec City as there are many international schools in the vicinity. Even our relatives are living here in the surrounding areas. We already have a villa in Mallampet, which we bought for investment purpose. Now, we are planning to buy a flat to live here."

Dinesh Sappidi, Director at Praneeth Group, said: "Almost 80 per cent of the residents are from IT industry. They don't mind travelling a mile more but they want asociety, which has excellent amenities, so that their kids can enjoy. Enough land is available for gated communities only in Bachupally, while other neighbouring areas are full of standalone apartments."

"Moreover, there is no impact of industrialisation on air quality or ground water availability here. Many units in Industrial Development Area (IDA) Bollaram were asked to move away beyond the ORR. Post-Covid, the dwellers are upgrading from two-bedroom to three-bedroom flats. The flat prices will further go up 30-35 per cent by next two years," he said.

The real estate group has several projects in and around Bachupally including PraneethPranav Valley, Antilia, Zenith, Flora, TownSquare, and high-rise apartment project Solitaire. It has also completed six projects in nearby Mallampet and two projects in Bowrampet, while two more are upcoming in Bowrampet.

Another developer Sahiti Group has recently announced its plan to accelerate its expansion in Bachupally-Miyapur with its upcoming township deluxe project having 1,290-2,600 sft units over an area of nine acres. Urbanrise has also launched premium residential communityOn Cloud 33 at Bachupally, while it already has The Happening Heights at Bachupally Extension.

Other gated communities in the area include Vasavi Urban, Sri Karthikeya's Bliss, Risinia's Skyon, Srinivasam's Serene Lifestyle-II, Mayura's Fortune Greenhomes, MSR's Serene City, Sri Avani's Sukruthi Homes, SRR Pride, Sree Homes Colony and Pleasant Ville. Apart from these, there are numerous standalone apartments available at reasonable prices.

Pothuganti Srinivas, a local real estate agent, says: "The rates of a flat in standalone apartment will be around Rs 4,500 per sft. However, the building approvals are given by both Gram Panchayat and Hyderabad Metropolitan Development Authority (HMDA). Those having permissions from HMDA are more spacious with amenities like lift and generator."

He informed that some people are also buying properties in unapproved projects that are plenty in number across Bachupally. One-and-half years ago, the area was included in Nizampet Municipal Corporation and all the home buyers who are living in such illegal buildings are waiting for the authorisation under the GO 152 (BRS-Building Regularisation Scheme).

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