Despite issues, Miyapur is the most sought after locality in Hyderabad
Metro rail connectivity led to drastic price hike of properties in and around the residential area
Hyderabad: Placed in between busy IT corridor in the West and dense housing colonies towards North, Miyapur is the first choice of many people planning to purchase a new home in Hyderabad. Those who look at investing in the real estate sector also consider the properties in this area due to its proximity to metro rail, Outer Ring Road (ORR) and other infrastructure developments in the vicinity.
In spite of having several issues, there is a huge demand for residential properties in Miyapur owing to its locational advantages. Good connectivity to the neighbouring areas like Nanakramguda Financial District, Gachibowli, Bachupally, Kukatpally and Kompally is contributing to its growth story. It is strategically located on NH65, the Pune-Hyderabad-Machilipatnam highway.
Right from the announcement of metro rail station in 2012, the property rates shoot up in the locality. The price hike started spreading to interior areas as well post the opening of the metro rail station in 2017. There is 60-70 per cent rise in the property prices during the last four years. The rates are likely to further increase steeply once the Metro Line is extended to Patancheru in the next phase.
However, the rates of residential units here are still affordable to a middle-class home buyer when compared to that of Kondapur and Gachibowli. The flats in standalone apartments at prime areas of Miyapur are being sold at a base price of Rs 5,500 per sft, while the ones located 2 km inside are available at a base price of Rs 4,500 per sft and those in gated community start from Rs 6,500 per sft.
Over the last 4-5 years, the monthly rentals of the residential units also surged up along with the property prices. The average rent of a two-bed room home starts with Rs 10,000in the area, which was almost double to that five years ago. Though there is huge demand for housing units, local residents keep complaining about various issues that plague the locality due to indifferent attitude of civic authorities.
Miyapur is a part of Serilingampally Municipality that comes under the West Zone of Greater Hyderabad Municipal Corporation (GHMC). This zone has numerous lakes and the sewage from housing units flow into these water bodies. As there is no sewage treatment plant (STP) nearby, locals complain about mosquito menace and foul smell in the surrounding areas of these lakes.
"For the last three years, we have been living in Janapriya Nagar. This colony becomes a danger zone whenever it rains continuously for two to three days. The drainage water overflows from Calvary Temple onwards to low lying areas. The sewage water gets stagnant and we have to bear the bad smell. Despite having underground drainage, mosquito menace is a regular affair," said Suresh Kumar, a retired government servant.
He said that the builders of standalone apartments have directed the drains into the lakes without proper outlet to sewage. The sewage from gated communities also flows into the adjoining water bodies. As there is no recycling of waste water, open drainage leads to sanitation and health problems to the dwellers, the senior citizen informed.
Also, there are issues related to dumping garbage on vacant lands instead of trash bins. Overflowing drains, water logging, potholes and bumpy roads are some of the other problems being faced by the residents of Miyapur. However, the prime areas are less affected when compared to the interior parts. The resident welfare associations are actively working on timely solutions with the help of builders.
V Vijayabhaskar Reddy, a local real estate agent, says: "Earlier, there was a problem of improper roads in the interior areas. But, the problem is no more seen from last couple of years. In order to sell the residential units in their ventures, the builders arrange to lay CC roads in the areas by urging the local MLA or corporators."
He further said that the encroachments around the lakes also stopped after stringent norms issued by the municipal authorities."When Miyapur was in Panchayat limits, there were several encroachments by the builders. If the extent of a water body is 25 acre, construction is not allowed up to 9 metre distance. After fixing this, no permission was given to build houses in the buffer zone," he added.
The real estate broker revealed that the builders are keen to develop the plots having 400 sq yards or less in Miyapur. They are developing four-floor standalone apartments with only eight flats, so that they can escape from the regulations of Telangana Real Estate Regulatory Authority (TS-RERA). As more apartments came up here, land is not available for gated communities at present.
|Property type||Prices in 2019||Prices in 2021|
|Gated community||Rs 5,000/ sft||Rs 6,500/sft|
|Standalone apartment||Rs 4,000/ sft||Rs 5,500/sft|
|Standalone apartment||Rs 3,000/ sft||Rs 4,500/sft|
|Individual plot||Rs 50,000/s yard||Rs 80,000/s.yard|
|Villa Project||Rs 90 lakh/ villa||Rs 1.6 crore/ villa|