One of the top and famous localities of the South Hyderabad-Rajendra Nagar is emerging as a sought after residential destination among many IT professionals as well as families. The area has got a recent focus when Hyderabad’s IT minister announced setting up of a new IT cluster with 28 top companies here.
While top IT hub spots of Hyderabad like Madhapur, Kondapur, and Gopannapalli in Serilingampally mandal are already facing a land crunch, the government has decided to move its focus to Rajendra Nagar which will in future become the new host for ever-growing IT sector of the city.
So, let’s understand the importance of Rajendra Nagar in the residential property market of Hyderabad:
Location and connectivity
The locality is situated in the South Hyderabad and is well connected to the rest of the city by Telangana State Road Transport Corporation (TSRTC). The Government has also proposed the expansion of the Rajiv Gandhi International Airport (RGIA) at Shamshabad. With this expansion, the local population will enjoy a smooth connectivity wherein the distance between the airport and the upcoming IT cluster will remain just 20 minutes.
Apart from this, a proposed metro route to the RGIA via Rajendra Nagar is under study. This route will be a part of the 60-km Phase-II of the Hyderabad Metro.
Rajendra Nagar enjoys a thriving social infrastructure which makes this place a well-suited locality for families. The area is also host to many well-known educational and healthcare institutes. Some of the popular educational institutes here include AVM High School, Bharatiya Vidya Bhavan Vidyashram, Spring Field High School, Adarsh Vidyalaya High School, and Sunshine Preschool & Day Care Chain – Attapu. Renowned hospitals in Rajendra Nagar are Sai Raghava Hospital, Saritha Hospital, Sapthagiri Hospitals, Relief Hospital, Sri Laxmi Hospital, Kavya Hospital, among others.
Real estate market
Because of the increasing IT population in Hyderabad, many IT and ITes companies are setting up their base in the city. All this has given a surge to the real estate market of Hyderabad as a whole. Talking about Rajendra Nagar, due to the announcement of setting up of IT cluster, the locality, as well as property rates, is going to flourish more in future. In terms of investment, those who are looking to buy a home will definitely be getting a good ROI too.
Residential units are available in various size which fits into every homebuyer’s pocket too i.e affordable to luxury. One can also invest in villas and independent plots.
At present, around 12 projects are up for sale in Rajendra Nagar. However, with good infrastructure, many top builders are looking forward to investing in this area. Some of the prominent projects include Happy Fortuna, Tirtha Signature 1, Giridhari The Art (Kismatpur), Vaishnavi Triumph Villa, Aadhya Advaita etc.
Property price and trend
With the increase in the sales of home as well as growing infrastructure in the locality, the property price in the area has seen a lot of growth. The average property rate which was 2,666 per sqft in April 2013 has reached a much higher level of 4,344 per sqft in April 2018.
With many future developments and the upcoming IT cluster, the locality is expected to witness the development of more projects as well as a rise in property prices in the coming future.