Known as the Pearl City, Hyderabad is the capital city of Andhra Pradesh. Hyderabad is full of rich history and culture, with Nawabs the early rulers leaving behind a legacy. The city is full of medieval architecture along with the new age wave of construction which has followed the widespread IT boom. With a great industrial setup and a booming IT sector, Hyderabad has seen a surge in demand for property. Besides the regular mid size flat culture, Hyderabad also has some swanky, up market property addresses.
The two areas which come to mind are the Jubilee and the Banjara Hills. Located between the commercial hub of Banjara Hills and the IT hub of Hi Tech city, Jubilee hills is one of the most expensive piece of land in the entire country, with the prices of some places in jubilee hills going up as high as 2,00,000/- per sq. ft. From a jungle before 1963, to the most up market address in town, Jubilee hills have seen a sea of change. The area is home to the telgu film industry and houses top film studios in the country. The area is mainly a residential one though recently some commercial activity has been noticed.
If Jubilee Hills is a residential jewel, Banjara Hills is the commercial crown of Hyderabad. Home to a few Nizams who used the forest areas of these hills to hunt also, Banjara Hills has now become the swankiest commercial addresses in Hyderabad. According to a survey by the Economic Times, Banjara Hills is one of the most expensive
Located right next to the affluent Jubilee Hills area of Hyderabad, Banjara Hills is a conglomerate of up market restaurants, boutiques, malls and couple of five star properties. The area is divided by roads which are numbered which go up to number 14. The main commercial concentration is around road 1 and 3. A recent survey showed the property worth of the entire Banjara Hills to be more than 96000 crore rupees. The area also consists of a park and an engineering college which has a beautiful and the largest college campus in entire Hyderabad.
Banjara Hills also has some niche residential areas which comprise of who’s who of the city who reside here. The property scene here consists mainly of villas / independent units and some flats. Owing a flat in Banjara hills, Hyderabad is considered a status symbol.
Though the residential area is a bit less in Banjara hills, still one can find builder flats here which range from 1 BHK studio apartments to swanky 4 bedroom penthouses. A 3 bedroom flat in Banjara Hills would set you back by almost 3.5 crores. The high prices of the real estate have further escalated the rental market in this area. A 3 BHK flat can go on rent starting from 28000 to 60000/- for a fully furnished one and of course depending upon the location and type of construction.
With the presence of so many corporate and the IT hub in the vicinity, the demand for property in this area of Hyderabad is perpetually high. Catering to this demand have been the builders who have developed these areas beyond recognition. Commercial spaces, both, official and retail, are really on a high as so many companies have set up offices here. Almost all major retail chains have their presence in the various malls dotted across the area.
Not many localities can boast of the ex chief minister living in the neighborhood and it’s the up market trendy people living in this area which have made it what it is today. The up market reality scene in Hyderabad is growing and on a high.
Being a freelance Marketing and Human Resource consultant for the last 17 years, Manoj Malhotra has had the opportunity to gain exposure and thorough knowledge about people and their behavioral patterns and an insight into varied fields.