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Prices for apartments in Bachupally go up by 20%

Situated in the north-west region of Hyderabad, Bachupally or Bachpalle as it’s also known, is an area that has metamorphosed into a bustling IT hub. Located in the Quthbullapur Mandal, the neighborhood is encircled by Suraram Village in the east, Bollaram Industrial to the west, Bowrampet in the north and Whisper Valley towards the south. The locality is cited to be a gold mine thanks to its greenery. The presence of many lakes and ponds have phenomenally improved the real estate worth of properties in Bachupally.

Hyderabad Metropolitan Development Authority is the active body that plans and develops the area. The once barren pieces of land have now been transformed into modern commercial and residential spaces. Some of the active neighbouring micro market include Miyapur, Kompally and Medchal.

Connectivity

  • Some of the arterial connectors that are passing through Bachupally are ORR (Outer Ring Road), Nizampet Road, Bollaram Road and Bachupally Road
  • Other important roads that ease networking to other parts of the city include Mallempet Road, Lahari Green Park Road and Pleasant Ville Road
  • State owned buses improve intra-connectivity. Some of the major transit points in the city are Bowrampet and Mallampet X Road bus stop
  • Rajiv Gandhi International Airport which is about 46 km from this locality can be reached through the Airport Approach Road and ORR
  • The closest railway station is at Lingampally, which is at a distance of about 15 km
  • National Highway 9 too improves access to Nampally (Hyderabad) railway station which is 22.5 km from this here

 

Budget Preference of Buyers – Bachupally


Infrastructure

  • The proposed ICBT (Inter-City Bus Terminal) project has already augmented the realty demand here
  • The plan to have this bus station that houses over 200 bays is likely to increase the realty supply
  • The upcoming Phase 1 of Metro project is likely to offer residents easy access to areas like Nizampet, Kukatpally and Miyapur
  • The closest metro station after its completion will be Miyapur which is about 8 km from Bachupally
  • The presence of many reputed schools, colleges and healthcare units makes Bachupally one of the most sought after areas
  • Since the ground water levels are marginally low, residents here have to depend on water tankers
  • Dotted by many MNCs (Multi-National Companies), the area has the perfect balance of commercial and residential spaces
  • The growing commercial belt is luring a pool of cosmopolitan crowd

 

Unit Size Preference of Buyers – Bachupally

Real Estate

  • The area’s strategic location is one of the reasons why home buyers are investing here
  • Its proximity to growing neighborhoods like Kukatpally, Miyapur and Nizampet has helped in the growth of the realty sector
  • Its juxtaposition to IT corridors too has augmented the realty demand. The growing employment opportunities are further adding to the growing housing appeal
  • Affordable property prices are another factor that are driving the realty demand. Plots in Bachupally are economically priced when compared to its neighbouring localities like Nizampet and Miyapur
  • Reputed builders are tapping into the demand and are offering all kinds of properties ranging from apartments to villas to even commercial spaces
  • With over 20 projects offering ready to move in homes, capital values of apartments have seen an appreciation of 20% in the past 2 years
  • According to current market trends, 2 BHK apartments here are said to be priced anywhere between INR 2,000 and INR 2,800 psft
  • Apartments and individual homes in Bachupally can be rented out between INR 6 and 10 psft per month
  • The increasing demand for independent homes and villas too has pushed property prices up. Villas here cost an average of INR 4,000 psft
  • Plots near proposed sites of ICBT and Miyapur metro station are cited to be most profitable
  • In a span of 2 years property values of land has escalated over 25%. Plots in this micro market are priced between INR 350 and INR 800 psft

Download the Solid Grounds Micro Market Report on Bachupally here.

You can also track the price trends of micro markets in Hyderabad by clicking here.

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