Hyderbabad real estate has been a hot topic in investor discussions through the long-drawn Telangana issue and after. The city's real estate market continues to be viable because of its strengths in the information technology (IT) sector. The focus area for property investors is emerging locations, which offer lower price points and a good appreciation potential.
Suchitra Junction or Suchitra Circle is one of the fastest growing suburbs of Hyderabad. Adjacent to the National Highway-7, this area is emerging a residential hub on Bowenpally-Medchal Road, which further connects Kompally to the business district of Secunderabad.
As Secunderabad is already an established market, the supply of new projects is very low with just a few developers active. Bowenpally-Suchitra Junction is a good option for people who want to escape the daily traffic woes that the city faces. Investors and end-users are moving towards the peripheral areas of the twin-city as these suburbs offer a variety of options in the affordable range compared to the city centres.
Located 13 km from the railway station, 40 km from the airport and 10 km from Secunderabad, Suchitra Circle enjoys good connectivity to the key city centers.
The area has very good social infrastructure to attract end users. Educational institutions such as Good Shepherd School, Sherwood Public School, Suchitra Academy and Loyola College are easily accessible, as are Spencer supermarket and Cine Planet.
The road connecting Kukatpally Y Junction to Kukatpally- Madhapur flyover has considerably reduced the commuting time between Kukatpally and the thriving IT-hub of Madhapur. Due to the proximity to this IT destination, Bowenpally-Suchitra Junction is witnessing a lot of IT-driven demand from the professionals employed in this neighbouring business district. With property prices between Rs 2,250 and Rs 3,800 a sq ft and an annual appreciation to the tune of four-seven per cent, depending on the type of property and amenities offered.
Rapid infrastructure development along the corridor, coupled with proximity to Secunderabad, is enticing both investors and end-users to this area. A host of developers such as Shri Salasar Developers, Aditya Constructions, Lahari Constructions, Shanta Sriram Constructions and Sri Lakshmi Constructions are offering a wide range of residential properties such as 2-5 BHK units in multi-storeyed apartments, row villas, and luxury villas at different price points.
The author is Managing Director - Hyderabad, JLL India
