With all of the good initiatives made by the present administration and the municipal government of Hyderabad, real estate investment investment industry in Hyderabad is looking very promising. The Telangana government will invest almost Rs 10,000 billion in infrastructural facilities in Hyderabad alone.
With superstars like Ivanka Trump favoring Hyderabad over other cities in India for corporate events and development, the city of Hyderabad is not only becoming an apple of the eye for mainstream news and financing but also for worldwide news. In terms of international investment, Hyderabad has just overtaken Bengaluru. Hyderabad is home to almost all of the world’s most well-known and recognizable brands in various industries.
Each of these elements is aiding in developing a solid foundation for the development of Hyderabad as the next center for the most significant commercial property sector. When the desire for real estate development in one region increases, residential housing in the neighboring or nearby areas increases. One such place in Hyderabad is Manikonda.
It’s in the city of Hyderabad’s western outskirts. Manikonda is a quickly growing place and has demonstrated a substantial rate of development in terms of returns over the last several years. It is recognized as one of Hyderabad’s most attractive neighborhoods for residential real estate and IT. People typically choose to live in a home that is close to their workplace. Gachibowli, Raheja Park, Shaikpet, Hitech City, and Nanakramgud are all close to Manikonda. Most IT professionals working in these locations consider Manikonda the most significant area to purchase a property.
Let us now see some of the significant factors that make Manikonda a fantastic destination for real estate investment.
1. Easy connectivity-
Flyovers and the Outer Ring Road make it easy to get to the airport and railway station (ORR). The forthcoming Metro station at Shilparamam is also a boon connecting to other parts of Hyderabad. Manikonda is also linked to the nearby IT hub through the Old Mumbai Highway, enhancing its accessibility to Gachibowli and Hitech City. Between it and Mehdipatnam, there are several bus routes. Golkonda, Qutub Shahi Tombs, and Osman Sagar Lake are all within reasonable driving distance.
Many well-known national and international construction companies and real estate developers have finished and passed over many housing properties.
TSRTC buses travel between Mehdipatnam and Manikonda MarriChettu Junction and Lanco Hills and Secunderabad to Manikonda MarriChettu Junction, forming an excellent public transportation system.
Chitrapuri Colony, built for Telugu film industry employees, is a significant landmark in the neighborhood. Several IT employees from Gachibowli and Hitech City are purchasing homes and property in Manikonda. Because of its spectacular location, it is a highly sought-after neighborhood. The placement of facilities of prominent software firms here and in Lanco Hills has enhanced the desirability of this residential neighborhood.
2. Real estate investment & pricing-
Flats, domestic plots, mansions, residential homes, and retail areas are available in this neighborhood. A one-bedroom flat (500-700 square feet) costs approximately Rs 14 to Rs 30 lakh. A 2BHK home with 900-1600 sqft costs Rs 32-80 lakh, while a 3BHK flat with 1100-2500 sqft costs Rs 60 lakh to Rs 1.5 crore. Real estate prices have been steadily rising for the past two to three years. Because of the rise in job opportunities, the rental market is increasingly busy.
Residential units do well in rental returns due to their closeness to IT hubs, with an average rental return of nearly 5.5 percent. The lease for a two-bedroom apartment might range from Rs 10,000 to Rs 25,000 per month, which is pretty reasonable. Due to these considerations, one should consider the housing possibilities accessible in Manikonda before purchasing real estate in other nearby areas. In addition, in the future, the projected ITIR Master Plan in Hyderabad, which will link with the HMDA Master Plan, is anticipated to bring more structured expansion to the city’s periphery.
3. Amenities are available-
With wastewater treatment plants and decent highways, this neighborhood is lusciously green and quiet. It’s an excellent area to reside if you want to be close to the city but not too far away. It is an appealing choice because of the rapid expansion of infrastructure. During the summer, though, residents complain incessantly about water system irregularities. Unreliable water supply is a big problem. Borewells and GHMC water tankers are the primary sources of water for the inhabitants.
During the monsoons, potholes are prevalent, causing traffic bottlenecks. In addition, residents have complained about excessive noise as a result of the ongoing development. Manikonda, a burgeoning neighborhood, offers a wide range of possibilities to house purchasers interested in personal or commercial real estate investment opportunities.
In Manikonda, the social infrastructure is catching up with the real estate investment & boom. On Manikonda’s major highway, there are several stores and eateries. Malls and retail complexes in the adjacent towns of Madhapur and Kukatpally provide to all of Manikonda’s retail and leisure needs. In addition, there are foreign hospitals and schools in the neighborhood. The road network, particularly in the depths of the region, is in poor condition. The unavailability of a water supply connection is the main issue here. The locals widely use Borewells and freshwater tankers.
Within a 7-kilometer radius, May finds renowned medical institutes such as Apollo Hospital, Care Hospital, Continental Hospital, and Max Cure Hospital. Inorbit Mall, Manjeera Mall, and Forum Sujana Mall are among the massive shopping complexes in the area. Osman Sagar Lake, Himayat Sagar Lake, Khajaguda Heritage Rock Formation, and Mrugavani National Park are beautiful locations to visit if you want to get connected to nature and enjoy a picnic with your family and friends.
Manikonda is a perfect site in terms of geography, site characteristics, great service providers, and real estate investment, so it’s easy to understand why a house here is so desirable. While there are inevitable snags, such as the state of road networks, the general development trajectory of this sector is excellent. Still, it is contingent on the IT boom continuing.