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City’s frills and laces find more takers
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A word of warning though beware of dubious developers, writes T.Lalith Singh
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The core is gone. Sold out and built up, hardly leaving much space to aspire to acquire. So is the case with immediate suburbs which caught in the boom, sold faster than hottest of the cakes. The otherwise neglected peripheries suddenly found themselves in a grip of frenzied sale of plots and a construction activity that saw the landscape change here at a rapid pace.
As the prices skyrocketed and an element of speculation got introduced into land acquisitions here, those not willing to be left behind but not prepared to raise the kind of monies required to buy a flat or a plot were forced to move to next layer of the peripheries. And as prices escalated here too, emerged the next layer where developers started to flatten land, fence it and erected hoardings.
Take any place that can stake claim for proximity of any kind with the city and one finds it being promoted as the next real estate destination.
So, these days driving away from the city and even miles away one can find signs of plotting all over. Whether it be the highways leading to Karimnagar, Warangal, Vijayawada or Mumbai, Bangalore or Nagpur, the same scenario gets repeated in varying degrees.
Nagging uncertainty
The given scenario often leaves property seekers in a rather bewildered state as one wants to be extra sure on their investments for a dream property not going awry. The confusion is not related to a given location alone but also on how much one should be prepared to part for a given property. Since the amount involved is considerable and aspirations for returns are much higher, that element of uncertainty is understandably quite nagging.
Thus, based on how much amount one is willing or capable of raising, a realistic assessment of ground situation is crucial in the given situation. The thumb rule is to avoid falling prey to hype that pervades the property market and also take care of not just getting floored by the promotions taken up by developers. The happening spots indeed are locations such as Kondapur, Gachibowli, Manikonda, Medchal, Miyapur, Kompally, Chandanagar, and parts of Hafeezpet. However, most of these places have graduated from sale of plotted area to constructed homes that come in shape of duplex, triplex or ultra-modern apartment blocks. Prices here vary from project to project and also on the amenities provided by the builder.
Airport USP
Then enters peripheries such as Attapur, that stretch from here till the new airport at Shamshabad and beyond. Though proximity to the airport is what happens to be the selling proposition here, a prospective buyer need to take a realistic look at the actual development of a given spot. For townships to come, commercial establishment to arrive and amenities to fall in place, do consume time.
The other areas are vicinities of the proposed SEZs that are lapped up fast and also the vicinities of the Bio-tech park.
Others such as Maheshwaram, Kowkur and Kothur too are promoted heavily while watchers look forward to Tellapur and Ameenpur as poised for a real growth in coming years. The vicinities of Pocharam where Raheja Mindspace IT Park and Singapore Township are highpoints too are seen as prospective investment zone.
Those who cannot afford the high costs find themselves driving down to places such as Gajularamaram, Dundigal, Gandi Maisamma, Medipally, Nagaram, beyond Ramoji Film City and Patancheru.
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Property Plus
Bangalore
Chennai
Hyderabad
Kochi
Malabar
Thiruvananthapuram
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