Bowrampet most affordable residential area in Hyderabad

Bowrampet most affordable residential area in Hyderabad
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Bowrampet most affordable residential area in Hyderabad

Highlights

Property prices have witnessed five-fold jump during past four to five years

Hyderabad: Bowrampet, also called as Borampet, is an ideal destination for affordable housing units in Hyderabad. Having all necessary infrastructural facilities and educational institutions, this area is in high demand among middle-class home buyers. Land is available for all kinds of properties including independent houses, luxury villas, premium apartments and gated communities.

The four adjacent villages – Bowrampet, Mallampet, Dundigal and Gagillapur – come under Dundigal Gandimaisamma mandal of Medchal-Malkajgiri district. This region is becoming a major residential zone due to the connectivity through the Outer Ring Road (ORR), proximity to the IT corridor of Hyderabad and pollution-free environment.

During the last four years, the property rates have seen a gradual price hike. A villa of 150-sq yard-area, which was sold for Rs 40 lakh in 2018, is available for Rs 1.5 crore this year. A majority of the home buyers here are the employees from the information technology (IT), pharmaceutical and education sectors.

This residential area is a major educational hub, surrounded by 15 famous schools such as Oakridge, Unicent, Kennedy, Silver Oaks, Vikas, The Creek, Bhashyam, Laurus Universal School, Ambitus World School, Gayathri Vidyalayam, Delhi Public School and Victory Model School. Also, there are many engineering colleges in the vicinity.

This region is close to institutes like Sri Chaitanya Academy for Intermediate education, Sri Vidya College of Education, DRK Institute of Science and Technology, Sri Chaitanya IAS academy, Sri Chaitanya Junior College, Impulse IIT Academy, VNR Vignana Jyothi, JNTU campus, Gokaraju Rangaraju, Mallareddy and other engineering colleges. Located close to the ORR, Bowrampet is well-connected with Bachupally, Kukatpally, Nizampet, Gandimaisamma, Gajularamaram and other residential areas. The 100-feet road from Bachupally to Mallampet was recently sanctioned by the government and it will be started soon. So is also, a 6-lane, 500 feet (150 m) wide road. This has led to growth in real estate activity with many residential ventures.

The residential projects in the area include gated communities like DJS Akshayas Fortune Heights, Sri Avani Projects, Dollar Dreams, Dollar Meadows, SRR Heights, Keerthi Homes, Tripura Landmark, Durga Vihar, Gokul's Brindavanam, SRK Homes, Gothic Infra's Pinnacle, Photon, Vajra Builders and Developers' Nature City, The Royal Park and Amsri Global Village.

Praneeth Pranav Group alone has seven projects in Mallampet, three projects in Bowrampet-Dundigal and an on-going project in Gagilapur. There are many gated communities, mostly villa projects in this region. Bowrampet is full of standalone apartments. Branded projects are lined up near Dundigal service road.

Almost 95 per cent residents are from the IT industry. Those who want to stay away from concrete jungles and congested localities prefer this area. Property prices are still affordable here, while the rates in other neighbouring areas like Kukatpally and Nijampet are beyond the reach of middle-class buyers, said Dinesh Sappidi, Director at Praneeth Group.

He further said: "We have an upcoming project – Praneeth Pranav Gruha Park near Narsapur–Gagilapur (ORR entry No 5). About 884 villas will come up in this 80-acre project. Though we have recently received approval from Hyderabad Metropolitan Development Authority (HMDA), we are waiting for nod from Telangana Real Estate Regulatory Authority (RERA)."

Similar to the spike seen in the premium real estate market of Kokapet-Narsingi-Nanakramguda region over a period of last few years, the Bowrampet-Mallampet-Dundigal region is also witnessing gradual rise in the property rates with a greater number of gated communities, standalone apartments, villas and independent houses.

Prashant Polepalli, a real estate agent from the area, said: "Bowrampet is dominated by standalone apartments in 300-400 sq yards. The builders get approvals from Gram Panchayat to construct G+2 floors. However, they unauthorisedly build G+3 floors and sell the top floor for a lesser price to cash parties, who keep waiting for BRS (Building Regularisation Scheme)."

He further said that the builders of gated communities in Dundigal service road area are providing rental income to the buyers from the date of booking flats in their apartments till the handover. The property rates have not yet reached the saturation level, but it may happen in the coming three years, he predicted.

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