Real estate in southern Hyderabad picks pace
Hyderabad: Real estate activity in the southern end of the city has started to pick up in the recent times with the areas of Jalpally, Pahadishareef, Mamidpally, Balapur, and Mallapur in particular, witnessing a steady growth and several real estate companies eyeing these pockets which are closer to the RGI International Airport. Given the fact […]
Hyderabad: Real estate activity in the southern end of the city has started to pick up in the recent times with the areas of Jalpally, Pahadishareef, Mamidpally, Balapur, and Mallapur in particular, witnessing a steady growth and several real estate companies eyeing these pockets which are closer to the RGI International Airport.
Given the fact that vast tracts of open land are available here, the developers are converting these land parcels into plots to cater to the preference of families who either seek to invest in plots for a higher return or acquire them now with plans to build a house later. A few of the developers and builders are constructing villas and selling them to those keen on buying ready to occupy properties.
Syed Saifuddin, a realtor from Jalpally said the area holds significance owing to its proximity to the Rajiv Gandhi International Airport and the PVNR Expressway that connects the southern areas of the city with the western areas and core city. “After slowdown due to Covid in the last couple of years, the real estate activity here has picked up. People are now making investments in hope of selling the properties later and making profits,” he explained.
According to property sellers here, most of the ventures are HMDA approved and the area is closer to the older parts of the city attracting NRIs who are interested in making investments in the land. The rates hover anywhere between Rs 20,000 a square yard and Rs 32,000 per square yard depending upon the location of the plot.
Mohd Abdul Sohail, another realtor pointed out that Jalpally area is interior from the main thoroughfare of Aramgarh–Chandrayangutta–LB Nagar. “There is no disturbance and the ambience is soothing and peaceful here with small water bodies present nearby. Encouraging groundwater levels and drinking water supply is an additional advantage,” he said.
Also, the government recently announced a special package running into a few hundred crores for taking up various developmental works in the Jalpally municipality. This has many anticipating good infrastructure development in this belt in the coming days.
Detailing the works, Jalpally Municipal Commissioner, JP Kumar said, “developmental activity like road widening, laying of new roads, new water pipelines and drainage lines, beatification around Jalpally lake are some of the works that are underway. They will be completed in next few months, making the area on par with the other neighbourhoods of the city,” said
Located around 2 km away are the areas of Mamidpally, Mallapur and Balapur located which are close to the Srisailam highway and this proximity to the major road network is also a factor that spurred interest for many in investing in property here. Also, these areas being well connected by public transport including the TSRTC buses, has added certain value to the property here.
Srinivas Goud, a local realtor said that several companies are expected to come in the Special Economic Zone coming up at Tukkuguda around 4 km from here and land values will further increase. There are proposals drawn up by the government to extend the Metro Rail route from Falaknuma to RGI Airport via Pahadishareef and that will enhance the worth of plots as well as residential structures.
Though the developers say that most ventures here have all the required approvals from the HMDA, it is advisable to verify and scrutiny all the documents and check officially to avoid the pitfalls of possible litigation later.
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