Some of the main drivers of Hyderabad’s economy are the Information Technology (IT) and Information Technology Services (ITES) sectors. Hyderabad is called “Cyberabad”. Hi-Tech City is located in a city full of IT and ITS businesses. Due to its presence, Hi-Tech City and its surrounding areas have grown significantly in both commercial and residential real estate.
In addition to places like Miyapur and Gachibowli, Kondapur is also a place that has always been the focus of attention when it comes to real estate. Kondapri’s real estate is currently booming due to several factors. It is located on the outskirts of Ranga’s Reddy district, surrounded by other places such as Gachibowli, High Tech City, Madhapur, Kukatpally and Hafeezpet. It was a highly coveted place in the mid-1990s and early 2000s, but then declined between 2010 and 2013 due to oversupply and political turmoil around Telangana. With the creation of a new state in Telangana, real estate prices have stabilized and demand has risen again in the region as political instability has subsided.
One of the main reasons for the popularity of Kondapri is its ideal location. The Gachibaurimiyapur Road, which runs through the area, connects to two main roads, the Mumbai Highway and the Outer Ring Road. This route provides access to the airport and Hafeezpet MMTS. The airport is 30 km via the outer ring road and Hafizpet MMTS. Hyderabad Metro also affects connectivity in the area. The metro will be in service by 2015 and the closest station to Kondapri is in High Tech City.
Being next to the city of Hi-Tech, it is mostly populated by IT professionals. Real estate prices, including apartments in Condapur, range from Rs 3,600 to Rs 4,000. The area has excellent social infrastructure in terms of retail stores, schools, banks and hospitals. This further strengthened the region’s status as a livable place.
This area is also a very good place to rent for those who don’t want to buy real estate here. Most of the demand for rental space is still from IT professionals. This area is a good investment opportunity for anyone who wants to profit from renting, as demand for rental housing has never actually dropped and is likely to continue. The rent for a 2BKH apartment can be between Rs. 13,000 and Rs. 17,000 per month. The rent here will be between 13,000 and 23,000 Indian rupees.
If you want to live just a stone’s throw from High Tech City and connect with the rest of Hyderabad, Conda Pool is ideal. So if you notice a house for sale in Kondapri, don’t hesitate, as prices in this area will only rise in the next few years.
Also read this My Investment Playbook