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Plots in LB Nagar appreciate by 33% but still remain affordable!

Lal Bahadur Nagar or LB Nagar as its commonly known is a municipality in the Rangareddy district of Telangana State. Located towards the south-east part of Cyber City, the area falls under the 3 Circle of East Zone of Hyderabad. Bordering Kothapet in the north, Karmanghat in the south, Saroornagar is the west and Mansoorabad towards the east, the area is cited to be one of the fastest developing residential localities. Some of the important sub localities here are Vivekananda Colony, RTC Colony, Alkapuri, Ramakrishnapuram and NTR Nagar. Connectivity

  • Some of the major connectors that pass through this area include National Highway 9 and Inner Ring Road
  • Apart from these arterial roads, there are many roads like Nagole Road, Siris Road, Nagarjuna Sagar Road and Kothapet Road that improve the intra-connectivity here
  • TSRTC (Telangana State Road Transport Corporation) buses provide easy access to other parts of the city
  • Despite of the fact that the Hyderabad International Airport is 24 km away, the airport in less than an hour away via the Inner Ring Road and Srisailam Highway
  • Kacheguda railway station which is the closest major station to LB Nagar is about 11 km away
  • The nearest MMTS (Multi-Modal Transport System) station from this neighbourhood is located in Malakpet at a distance of 9 km

 

Budget Preference of Buyers – LB Nagar

Infrastructure

  • The upcoming Phase I, line I of Hyderabad Metro linking LB Nagar to Miyapur is said to have 26 stations that will ease networking to established areas like Nampally, Kukatpally, Assembly and Dilsukh Nagar
  • The proposed Phase II line of the metro will be extended from LB Nagar to Vanasthalipuram. The construction for this line will begin this year
  • Although the residents here face water shortages, the proposed JNURM (Jawaharlal Nehru Urban Renewal Mission) project will provide drinking water to not just LB Nagar but also to other areas like Kapra, Kukatpallu, RC Puram and Serilingampally
  • Newly laid pipelines will draw water from the Osmansagar reservoir
  • The metro constructions are leading to large traffic bottlenecks during peak hours
  • The area is plagued with petty crimes. Recent records have documented the most number of crime incident in this region
  • The neighbourhood’s proximity to many industrial zones is another major concern for residents as the pollution level always remain high
  • Illegal building constructions were on the rise in LB Nagar, however during the recent checks conducted by the Hyderabad Municipal Corporation, many notices were issued which have helped curtail this problem
  • The existence of many recreational spots, popular eating joints, malls, schools, colleges and health-care units have lured many to shift base here

 

Unit Size Preference of Buyers – LB Nagar

Real Estate

  • The proposed Hyderabad Metro project has played a pivotal role in flourishing the localities realty sector
  • 45% of residential properties in this micro market are multi-storey apartments, followed by independent homes at 40%, plots at 14% and villas at 1%
  • Working professionals from nearby IT parks are showing keen interest in investing in properties here
  • Compared to its neighbouring localities, property prices here are very economical, thereby making the demand and supply ratio stand at 80:20
  • There is an inherit demand for 2 and 3 BHK apartments in LB Nagar
  • In a span of two years, apartments here have appreciated over 26%. Current prices for apartment that spread over 1,000 sqft is stands at an average of INR 3,000 psft
  • Capital values of residential plots in LB Nagar have escalated over 33% and plots today cost anywhere between INR 700 and INR 1,500 psft
  • Similarly, the growing demand for villas too has pushed property prices to soar. On an average a 2 BHK villa is estimated to cost INR 3,800 psft
  • The economical prices have ensured the rental market remains robust. Independent homes for rent generate rental yields anywhere between INR 7 and INR 10 psft per month

Download the Solid Grounds Micro Market Report on LB Nagar here. You can also track the price trends of micro markets in Hyderabad by clicking here.

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