5 Best Localities to Live in Hyderabad in 2022
By: John Garcia | Date Posted: March 3, 2022
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Hyderabad is one of the most modern and fastest-developing cities in India. With so much development happening, there are plenty of luxurious places in Hyderabad to live for those who can afford them! A property market with a rich history has witnessed many changes over the years.
If you are looking for posh flats for sale in Manikonda, you must go through this post, but first, let’s understand the real estate trends of Hyderabad and how they have changed in the past few years.
Live in Hyderabad
Apart from Chennai and Bangalore, Hyderabad is the most important metropolitan urban city in the Southern part of India. With a buzzing business hub and a growing socio-economical life, the city has become a wonderful option for people who do not wish to migrate to the North Indian states in search of education and employment opportunities.
Naturally, with the growing popularity and inflow of migration, the real estate sector of Hyderabad experienced a boom and has been on the rise for the past decade or so. Here are some of the key observations of the real estate trends in Hyderabad.
- Hyderabad’s real estate market has maintained its ranking as one of the top 7 performing markets in urban India.
- The industry experienced a down-trend for 8 years (between 2009 and 2018) but since 2018, real estate prices have steadily improved year on year.
- The COVID-19 pandemic affected the real estate industry, resulting in a discount of almost 15% on premium residential and commercial properties.
- The state government has implemented many schemes to boost real estate in urban cities like Hyderabad.
- New flyovers, high-quality roads, low-interest rates on home loans, and subsidies for first-time buyers are some of the things that the state government is implementing to boost the real estate sector
- In 2019, the average price of homes was close to Rs. 5,100 per square foot.
- In 2020, due to the pandemic, property prices dropped to Rs. 4850 per square foot.
- From January to June 2021, the overall units sold in Hyderabad increased to 13,250.
Top 5 best localities in Hyderabad
Manikonda
The Manikonda region is becoming more popular among IT professionals as a place in Hyderabad since many corporations have offices here. Manikonda is a sought-after residential area because of the infrastructure development, shopping plazas, educational institutions, and proximity to job centers. Many single-family houses and high-rise flats mark this zone.
One of the most exemplary residential projects in Manikonda is Lanco Hills. Importantly, if you are a student, you would like to rent a house as it is very cost-effective. There are many houses for rent in Secunderabad. It is a good idea to look out for banners saying house for rent in Secunderabad as you would not like to invest a lump sum amount of money for purchasing a home.
Banjara Hills
Banjara Hills is the most popular and well-known locality in Hyderabad to live, located in the city’s northwest sector. This area is recognized for its large commercial enterprises, including restaurants, shopping malls, and hotels. It is only a few kilometers from the main tourist attractions in Old Guntur, and, like all of Guntur’s nodes, it has easy access to supermarkets, restaurants, and amenities.
It is also close to global business areas such as Mindspace IT Park. The Valencia apartment complex is a premium residential project that is garnering the eyeballs of real estate investors in Banjara Hills.
Jubilee Hills
The wealthiest area in Hyderabad is Jubilee Hills, which lies on the western outskirts. This neighborhood is mainly made up of single-family homes and luxurious apartments.
It is near Hitech City, one of India’s most popular and advanced IT centers. Many celebrities such as actors, political personalities, and corporate business leaders have their houses in Jubilee Hills. It is linked to the metro’s blue line. It offers a wide range of services and facilities.
Hitec City
The Hitec City area, located west of the city, is a significant commercial neighborhood that provides many employment possibilities. It’s a critical IT technology center where several big firms reside. Commuting to these business centers has become simple because of the Hitec railway metro station being in the locality.
There are a lot of new builders in Hyderabad, and it is simple to buy property in Hyderabad. The high-rise flats predominate here. In Hitech City, there are several examples of premium apartments such as Elena Park, and Vishnu Vistara. It is a good idea to buy property in Hyderabad as the cost will increase every year.
Gachibowli
This is a popular residential and commercial area in Hyderabad, India, and is located near Hitech and houses many well-known firms, making it desirable for working individuals. The cost of living in Gachibowli is reasonable given the facilities on offer.
This district is primarily made up of high-rise flats. Aditya DSR Lakeside Apartments and Prestige High Fields are a few luxury apartments available in this area.
How to Choose the Most Suitable Locality for a House in Hyderabad?
When choosing the locality for your house, there are a few important factors that you must keep in mind before making the final decision.
- Ensure that the locality is well-connected with public transport and has good infrastructure.
- Choose a locality that is closer to your work and reduce the to and from travel time that becomes a headache during peak hours
- If you have family, it is better to choose a locality that has places of leisure such as malls, parks, movie halls, etc.
- While choosing a residential society, cross-verify the developer’s reputation and read the testimonials of previous buyers.
Conclusion
Hyderabad’s living cost is high in these five localities due to the recent development of commercial business hubs. If you are looking for flats for sale in Manikonda, you can surely check many of the verified property listings on No broker.in
Thank you for reading!
