Where Should You Rent Houses in Hyderabad?

Most people working in the IT sector of Hyderabad live in rented accommodations as they have come in from different cities and have a chance of being transferred to another one. There are certain areas where rental values are higher than other areas because of their proximity to IT corridors of Hyderabad. For example, in Madhapur, the rental rates have gone up by 8 percent in the past 3 months. It is also a part of the top 10 localities in Hyderabad. The main reason why rental rate in this area is increasing is the presence of IT and ITeS companies.

Many IT hubs are located near the area such as those in Kukatpally, Kondapur, Hitech City and KPHB. Those working in the software companies based in these IT hubs prefer renting properties in this locality. The demand for property in Madhapur has risen because employees want to stay as near as possible to their work places so that travelling to work is not an issue. The walk-to-work culture is quite prevalent here. The other reason why demand has gone up in this area is the presence of big and small IT companies in this locality. This has multiplied the employee strength in these IT hubs, which has further boosted the demand for rental properties. Most people working in these companies are migrants who are uncertain about whether they will be staying here for long or not.

Currently the rental rates in this area are between Rs 12000 and Rs 16000 in a month. The demand for 2 and 3BHK apartments is quite high in this locality. Most employees like to make groups and stay which is why they look for larger apartments. Rarely do people prefer to live in a 1BHK property here. The rental rate for 2BHK apartments is between Rs 10000 and Rs 20,000 in a month whereas for 3BHK units, the rental rate for flats is around Rs 15000 to Rs 40000 in a month. People prefer to rent apartments in both stand-alone complexes and gated communities in Hyderabad. The starting of the metro line in this area has not affected the rental market although it has affected the capital one.

Future Prospects of the Rental Market

Most market experts believe the rent would increase more in Madhapur. The real estate in Hyderabad has been quite low in the past couple of months. However, now that a stable government has come to the centre, rental rates would increase further and the capital values would also be more.

Another area where the rental market is quite upbeat in Hyderabad is Ameerpet, where quality properties are available at lower rental rates. Ameerpet has a lot of training institutes for software in Hyderabad which is why it is preferred a lot for renting in the city. Moreover, there has been a drop of almost 8 percent in the rental values in the first quarter of 2014.

A lot of the employees and outstation students who work in the IT firms close by rent out the properties located here. The main reason why rental values have declined is that recruitment by software companies is not very high at this time. This has made the rental market a little slow which has led to a fall in the rental values of the area. Also, because a stable government in Andhra Pradesh is absent and the state being under President’s Rule, volatility has been introduced in the market which has caused some decline in the asking rate for rental properties. Those who live in this area have very low budgets and they do keep coming in irrespective of the falling political condition of the state. However, the employees of software companies here majorly impact rental markets in the area and dwindling demand from them has impacted the property market badly.

Another cause for the fall in rental values is the plentiful availability of rental properties in this area. Because Ameerpet is favourable to people who want to live on rental properties, investors lease out properties usually to house for rent in Hyderabad for gaining rental returns. This has caused an oversupply of house for rent in Hyderabad in Ameerpet.

All About Ameerpet 

To rent property in Ameerpet, you would have to spend anything between Rs 5000 and Rs 25000. Usually 1 or 2BHK apartments are preferable in this area. Ameerpet is a mix of residential and commercial properties. There are quite a few commercial businesses, textile and retail stores and IT companies located in this area. What makes Ameerpet famous among people, are the training institutes for software located in this area where individuals from all over the country travel to.

Easy connectivity to areas such as Banjara Hills, KPHB, Begumpet, Hitech City, Jubilee Hills, Somajigutta and Punjagutta is offered by Ameerpet. Numerous IT companies are located near it which employs hundreds of workers. The APSRTC buses can be availed for commuting to different areas of the city. Ameerpet shall soon have a metro station that would improve the connectivity of the area. Those dealing in rented properties in Ameerpet believe that the market would stabilize as the Lok Sabha elections have been concluded successfully and a stable and dynamic government has come up in the centre. As the economy takes on a faster growth trajectory, the market too would recover.

To find house for rent in Hyderabad, going online is the best option. Select the locality that you want to find a house in from the drop down list and the website would show you the best options available for you. The floor space along with the property layout shall be available to you for viewing. You can also determine the rental rate of the property along with the contact information of the landlord.

Prior to renting the property, you must visit it to make sure it does there are no damages. If the damages are manageable enough to live with, you should ask for significant discounts on the property and in case of excessive damage, you should skip the property.

Where in Hyderabad Can You Buy Flats for Rs 30 Lakhs?

A lot of people come into Hyderabad to work in the IT sector. There is high demand for affordable housing among such people. The areas of Nallagandla and Nallakunta have housing options which are within a budget of Rs 30 lakhs. Here is a discussion on them.

Nallakunta

Nallakunta is known among all as the Hyderabad coaching hub and it is located on the city’s fringes. However, it was quite popular among house buyers as properties are much affordable in this area compared to the other established neighbourhoods in Hyderabad viz. Kondapur, Kukatpally and Gachibowli. Most of the apartments available are of the 2BHK and 3BHK types. For an apartment of size 2BHK, you would have to spend at least Rs 30 lakhs while for a 3BHK apartment the price may go up to Rs 50 lakhs.  A few 1 BHK flat in Hyderabad are also available here for less than Rs 20 lakhs.

Areas like Gachibowli offer similar 2BHK flats for more than Rs 40 lakhs while in Kukatpally and Kondapur, the starting price of 2BHK apartments is around Rs 35 lakhs. Closeness to commercial areas, affordable properties, established infrastructure and educational institutes are some main reasons which drive realty in Nallakunta. Located towards the north east half of Hyderabad, close to Osmania University, Nallakunta is known to have coaching centres for MCA, MBA and IIT. Many students come in from other states or cities for studying here which is why rental demand is very high in these localities.

Therefore, those looking to invest in Nallakunta would receive good rental returns. For a 2BHK flat, you can earn Rs 10,000 to Rs 12,000 in a month, depending upon the amenities and furnishing being provided. For 3BHK units in a month, roughly Rs 13,000 to Rs 17,000 can be commanded in a month. A 1 BHK flat in Hyderabad can be afforded at under Rs 10,000 in a month. Mostly service class people live in this area as they are employed in the coaching centres or commercial area of Banjara Hills which is only 10kms from here. Located at a distance of around 7kms from the area of Nallakunta, is Uppal which has numerous governmental agencies that employ hundreds. These people look for housing here because the properties are affordable and their development is multi-dimensional.

Many families choose to buy apartments in Nallakunta because Warangal is easily accessible from here. Nallakunta lies on the Bhopalpatnam- Warangal-Hyderabad Road which converges to the NH202. Mainly for its housing Nallakunta has gained prominence as it is affordable and self sustained. There are several educational institutes here which have driven up Nallakunta real estate.

New and Old Nallakunta 
 
Nallakunta has been divided into two segments of New and Old Nallakunta. The old Nallakunta area has coaching centres and commercial buildings whereas the new neighbourhood has housing societies which offer apartments. The New Nallakunta Main Road has a railway line also passing through.

Infrastructure of Nallakunta

The civic and social infrastructure of Nallakunta is quite self-sufficient because all the facilities and amenities are there in the locality. Hospitals, schools and colleges are all there within a radius of 2km. Nallakunta is quite a shopping destination for families because of the widely spread retail market of the area. This also acts in favour of the area. Nallakunta is only a 10 minute walk from the Vidhya Nagar Railway Station. Areas such as Adikmet, Chikkadpally, Amberpet, Shanker Mutt and Shivam Road can be approached via local trains. Aside from this, the APSRTC or Andhra Pradesh State Road Transport Corporation’s bus services can also be availed for travelling to other parts of Hyderabad.

Nallagandla  

Those on the look out for spacious property within an affordable budget should consider Nallagandla as the ideal destination. The area has large 3BHK units on offer whose prices begin from Rs 40 lakhs and it is the most budget-friendly locality close to commercial markets of the finance district and Gachibowli.

Where is Nallagandla?  

Nallagandla is located between BHEL and Gachibowli. It is also between the two most important arterial roads of Old Mumbai Road and the Outer Ring Road which connects the area to the main city and other important areas such as Banjara Hills and HITEC City.  
Most of the flats offered in this area are two bedroom and three bedroom units. The price of 2BHK apartments in this area is around Rs 30 lakhs for an area of 1000 and 1200 sq. ft while for 3BHK apartments is Rs 40 lakhs. These apartments usually begin from 1500 sq. ft. Most of the flats available are semi-furnished along with moderate woodwork and marble flooring. Most of the projects are under construction still but some properties are ready to be possessed in the area. Most people buying property in this area are end users although there are several investors in the area too who have invested here for cashing in on rental returns.  
The rental values of flats in Nallagandla are quite high. For a 3BHK apartment in this area, you can earn anything between Rs 12,000 and Rs 24,000 in a month, depending on the amenities offered and furnishing. Even though most of the purchasers in this area are IT employees, several government officials who work for BHEL have also bought property here.

Why Should You Choose Nallagandla?

For most home buyers in this area, Nallagandla has been a secondary choice as the nearby area of Chandanagar has better connectivity and infrastructure. However, with newer residential development, social fabric bettered in the area which led to improved amenities, better roads and other necessities. There is still a lot of green area in Nallagandla because it is still developing. Basic amenities such as ATMs, grocery shops, colleges and schools are available here which is why the area is livable. Other areas which are close by are Gachibowli, Beeramguda, Kukatpally, Miyapur and Nizampet. The Nallagandla Lake is also a point of attraction in this area.

The locality is only 1km away from Lingampally Multi Modal Transport System station which makes its connection with other important junctions much improved. Companies which are located in this area offer taxi services to residents of the area. Traffic free roads and easy conveyance makes commuting much comfortable for those going to the Hyderabad Railway Station or the Shamshabad Airport.

Realty Investment Prospects In Hyderabad And Secunderabad

As the speculations about the elections of 2014 have died down, prospective buyers eagerly await to see momentum in realty market of Hyderabad. Even though some people say that prices of property may remain steady in the next couple of months, a lot of others believe that buyer sentiments may push prices up.

For long, Hyderabad has been a favoured destination for investors and buyers alike. If you intend to buy property in Hyderabad, then you would be glad to know that more than 300 residential projects are coming up which include plots, multi-storey, villas and residential houses.

According to the MD of JLL of Hyderabad area, realty market in the city will continue to have its pre-eminence and relevance. In the next 6 to 9 months, the sentiments of businessman shall mostly remain stable. This period may be found favourable for investors as valuation of property is low and there is possibility of capitalization.

Location

Most of these projects are located in Kondakal, Gachibowli, Mutangi, Appa Junction, Chanda Nagar, Kukatpally, Shamshabad, Shad Nagar, HITEC City and Sainikpuri among others.

Kinds of Properties

Multi storeyed apartments, plots, villas and residential houses flood the market here. A favourite area for villas, plots and apartments is Gachibowli and construction magnets like Ramky Estates and Farms, Mantri Group and Aparna Constructions have projects located in this area. Shad Nagar, Adibatla, Kondakal, Shamshabad and Mokila are some of the areas for residential plots.

Prices

Prices for multi storeyed apartments begin from INR 11 lakhs for 2BHK units in Shad Nagar while it can go up to INR 2.65 crore for a 3BHK flat in Banjara Hills. Villas may be priced at INR 32 lakhs for 2BHK set ups which are located over 4500 square feet in Srisailam Ivy. In Gachhibowli, for a 5BHK villa which is laid out over 4050 square feet, you would have to pay INR 5.5 crores.

If you want a residential plot, you would have to pay Rs 1.35 lakhs for a plot measuring 1800 square feet along Warangal highway. The prices may go up to INR 1.50 crores for plots measuring 3870 square feet in Madhapur.

According to a recent study, realty sector in Hyderabad may gain after the creation of Telengana. According to the COO of Perfect Pincode, Ravi Varma, one out of fifteen enquiries has been converted into actual transactions. The price range of such conversions is between INR 25 lakhs and 75 lakhs.

New and Established Developers are entering this market and it is thought that most of the possessions shall take place in locations like Kondapur, Madhapur, Nalagandla, Miyapur, Appa Junction and Uppal. The regions have become the new cynosure for realty sector in Hyderabad.

Another popular area is the Yapral area in Northern Secunderabad. NizamNazirud Doula built the RashtrapatiNilayam in 1860 here which is also known as the Residency House. The construction became the country house of British Residents at that time in Secunderabad. Presently, it is a custom for the Indian President to stay here at least for one time in a year. Quite surprisingly, this grand structure which is only 9kms from Yapral is a USP spoken of by realtors when prospective buyers speak to them.

Located just 5kms from the area of Sainikpuri, Yapral is popular for those people employed in military services. Because of the cosmopolitan culture among the people in the military where people from different parts of India get together, non-locals prefer to stay in Yapral too.

The area is also very popular among retired military officers. Visitors may come across numerous majors and colonels who are non-natives but prefer staying in Yapral because of the good infrastructure and peaceful environment. For now, non-natives have taken a shining towards the area because of the North Indian population living here.

Kinds of Properties Available

Independent houses and villas are a common choice in this area of Secunderabad even though multi storeyed flats are slowly growing in number. Villas are chosen because of the kind of privacy they offer and they do not restrict one like flats might.

Local realtors state that there are a number of options available in Yapral. A gated residential community is not very uncommon in this area and they have all kinds of amenities at hand- club houses, supermarkets, gyms etc. The values of capital in Yapral range between INR 2,300 and INR 2,700 for square feet. Apartments which are in the 3BHK style cover an area of almost 1485 to 1586 per square feet can bill you between INR 34 lakhs to 40 lakhs.

Houses for residential which are in higher accommodations which range between 1900 and 2600 square feet which might cost you between INR 43 lakhs and INR 74 lakhs. The 5BHK apartments may cost almost INR 2 crore for a house that measure almost 5100 square feet. However, there are 3BHK and 4BHK villas which might cost you between Rs 55 lakhs and Rs 1.40 crores. You can also buy residential plots in this area.

Facilities

The Secunderabad Railway Station is only 11kms away from Yapral. By taking the Karimnagar-Hyderabad highway, the Begumpet airport shall be located only 13kms away. Unlike most areas, Yapral is peaceful and free from traffic jams as it is close to a military area. The APSRTC serves the area well as buses ply regularly here.

Most of the layouts are permitted by the HMDA and therefore electricity and water is looked after by the APSEB and HMWS respectively. There are some prestigious schools locate in the area too. Hospitals, colleges, environmental parks and restaurants are also located abundantly here.

Possibility of Appreciation

A villa that was worth Rs 48 to Rs 50 lakhs 2 years ago costs roughly between Rs 60 lakhs and Rs 70 lakhs. Investment in the area has gathered momentum after the elections have ended. As Hyderabad has been declared as the joint capital for the coming 10 years, buyers are making proper choices without past uncertainties.

Realty growth in Yapral is still in a developing stage. However, its proximity to military areas and Sainikpury, the liveability proportion is more. Yapral is already self sufficient in numerous ways although commercial developments are coming up.