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Kompally: Emerging Hub of North Hyderabad
Emerging Hub of North Hyderabad
Kompally, an upcoming residential area in Hyderabad, is poised to emerge as the primary centre of North Hyderabad, boasting a vibrant real estate industry and a high demand for properties among prospective buyers.
Hyderabad: Kompally, an upcoming residential area in Hyderabad, is poised to emerge as the primary centre of North Hyderabad, boasting a vibrant real estate industry and a high demand for properties among prospective buyers.
The area’s potential is reflected in the construction of luxurious residential complexes such as high-rise apartments, villas, and numerous commercial spaces. Furthermore, the region’s proximity to other areas such as Jeedimetla, Dhulapally, Alwal, Bollaram, Kandlakoya, and Medchal, places it in a good position for future expansion. The area is also well connected to most of the erstwhile districts in northern Telangana such as Karimnagar, Nizamabad, Adilabad.
The establishment of the Gateway IT Park in Kandlakoya by the government, which is expected to create employment for 10,000 individuals, will also provide a boost to the region. According to developers, several apartments, standalone buildings, gated communities, and independent houses are being constructed in North Hyderabad, with residential units priced lower than those in Western Hyderabad. Many schools, hospitals, higher education institutions, shopping malls have established their units in this thriving locality. Most of the city dwellers are evoking keen interest to purchase properties in these areas which quite did not happen in the past.
Speaking to The Hans India, Balayya, Sri Sai Krishna Real Estates, said, “Various factors can be attributed to the growth of Kompally such as the location close proximity to northern districts in Telangana, and it is mostly commercial properties that are thriving in this area in comparison to residential complexes. The open plotting is also witnessing a significant rise in this area. With regard to housing, gated residential communities are gaining traction with Rs 5,000-6,000 per sq. ft in every area in Kompally.”
The cost of a single flat in a standalone building in the Kompally area is roughly around Rs 4,500 to Rs 5,000 per square foot, while each residential unit in a gated community is priced between Rs 5,500 and Rs 6,000 per square foot. Additionally, the cost of plots in this area ranges from Rs 60,000 to Rs 80,000 per square yard.
Speaking to The Hans India, LingaRao, Bhoumik Real Estate said, “Due to the rapid expansion of infrastructure in this area such as flyovers, increase in transportation facilities with the recent introduction of MMTS services, this area is poised to grow very rapidly in coming days.”
