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Kompally, the new real estate hub
Posted by Srini Uppala | February 29, 2008 | 1,664 views
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Loading ...The area which is dotted with dhabas and theme parks is witnessing a boom in construction activity, writes S. Sandeep Kumar
Up for grabs: Apartments coming up at Kompally on the Medchal Highway in city. -
From a sparsely populated and completely ignored village on suburbs, Kompally in a very short span of time emerged as a location of high preference on developers’ list and investors’ dreams. The metamorphosis has been so complete in just couple of years that it has emerged as a premier real estate hub in these parts of the city suburbs.
Till recently, if Kompally just had faint sounds of vehicles plying the Nagpur National Highway and muted sirens from the small scale industries, these days it is reverberating with construction activity.
Wide roads
Located strategically at a distance of six kilometres from Bowenpally, eight kilometres from Balanagar and 11 kilometres from Paradise circle, Kompally is well connected by means of road transportation. Unlike, the routine traffic jams of the city, the 100-feet wide National Highway and wide enough roads connecting Jeedimetla and Bowenpally, make travelling a pleasure here.
Replete with family dhabas and entertainment theme parks like Runway 9, city dwellers over the years have been thronging for a leisurely bite and enjoy the drive, and with the launch of Cineplanet, a multiplex last year, the locality is now abuzz with activity almost 24/7, surely signs to spur the interest of developers launch their ventures here.
In a span of three years, real estate activity has taken over this village. If till few years back, people dealt in acres here, now it is in square yards which measure is also showing signs of fast turning scarce. While a square yard on the either sides of the Highway range between Rs.30,000 and Rs.40,000, it fluctuates around Rs.15,000 per sq. yard on the interior roads connecting Jeedimetla and Bowenpally, informs Santosh Kumar, a local land consultant.
Kompally in a way boasts of all the basic amenities that go into a good residential zone. There are corporate hospitals, schools, colleges, super markets and with Petbasheerabad Police station in close vicinities, there is an assurance of security as well. Above all, the locality is devoid of traffic rush and offers peace of mind, points out Muralidhar Rao, a resident of Ramaraja Nagar.
Plans for everyone
Cashing on the real estate boom, real estate developers have come up with different plans to suit the customer needs. While builders like Anusha Developers, Agarwal Constructions commenced apartment blocks, others like Sree Vensai Projects Limited have gated communities on offer with double and triple bedroom flats. Those like Jayabheri Constructions and Ashoka Builders are even offering plots for construction of individual houses on the Jeedimetla Road.
While double bed room flats are constructed with an average built up area of about 1,250 sq ft, triple bedroom flats come with around 2,200 sq ft and the pricing per sq ft range from Rs.2,800 to Rs.3,000 depending upon the builder, project size and amenities offered.
With neighbours, for buyers particular about them, such as Satyam Computers, Apparel Export Park, Andhra Bank and Dhola-r1-Dhani, Kompally ideally suits for development of residential colonies. Further, it is fast attracting corporate giants given the adequate road network, pollution free environs compared to other parts and a reasonable distance from the city. All these factors contribute in emergence of Kompally as a safe bet for investors, says Sree Vensai Projects General Manager (Marketing) P. Janardhan Reddy.
Interestingly, despite such hectic construction activity, builders inform that the place offers ground water in abundance. But the only sad aspect of it is the fast fading of an envious green cover fast for the city and family dhabas, once synonymous with Kompally standing on verge of going extinct.
SOURCES:
The Hindu
Topics: Real Estate |
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