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Nizampet Becomes Residential Hub
Posted by Pradeep Sadanapalli | August 10, 2008 | 577 views
(4 votes, average: 1.5 out of 5)
Loading ...The Nizampet-Bachupally stretch has become a major residential hub, catering to both rich and middle class sections. The area is strategically located between the National Highway 9 and inner ring road of Hyderabad. Software professionals, businessmen, and government employees have been buying flats and individuals houses in the Nizampet-Bachupally stretch.
The major advantage of the area is that it provides connectivity to key spots such as Kukatpally, Hitec city, Gachhibowli, Sanatnagar, Balanagar, Begumpet and Secunderabad. Construction activity has been in full swing in the locality though there is a slowdown in the real estate market otherwise.
Major realtors including Maytas Properties, Indu Projects, Landmark Builders, Sri Surya Builders and Developers, Jagadamba Properties and several other such builders have taken up residential projects in the stretch. Flats and individual houses are being sold at rates ranging between Rs 25 lakh and 75 lakh, based on the quality of construction, built up area and other facilities. Matyas is constructing a world class integrated township in 376 acres at Bachupally. “The project offers a range of apartments, villas, bungalows, retail, hospital, entertainment, infrastructure and SEZ, all incorporating the best features,” says Mr Sumith Reddy, head (residential townships) of the company. “It is just a 20-minute drive from Hitech City.”
Similarly, Indu Projects is also planning an integrated township in 100 acres at Nizampet Bachupally and Landmark Builders is building 90 flats under its ‘Pristine’ project. “Most of our buyers are software engineers since Hitech city is nearby,” says Mr Sanjay Kumar, managing director of Landmark Builders. Other builders are trying to attract middle and upper middle class sections by providing flats at affordable rates.
“Executives may not get more than Rs 25 lakh as loan from banks and so we have fixed a square feet rate of Rs 2,500,” said Mr B.S.V. Prasada Rao, managing director of Sri Surya Builders and Developers, which has taken up the Sri Suryavijya Icon project in Nizampet.
According to Mr Rajesh Agarwal, managing partner of Jagadamba Properties, Nizampet will become more attractive once the Outer Ring Road and metro rail projects are completed.
“After carefully assessing the future demand, we are constructing 300 flats in the Divine Dwellings project,” he added.
SOURCES:
Deccan Chronicle
Topics: Real Estate |
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