Housing prices hike at high speed in Nallagandla-Tellapur-Kollur

Hyderabad: When the IT boom started in Hyderabad during 2004-06, Nallagandla was one of the nearest areas to Hitec City. Due to well-built infrastructure and availability of several layouts, it has been a big-time area since then. The land rates have skyrocketed more than 15 times from 10,000 a sq yard in 2007 to Rs 1.5 lakh a sq yard in 2022.

Nallagandla is a mixed residential area having high-rise apartments, gated communities, standalone apartments, individual houses and villas. It is closely connected to Miyapur metro station, Lingampalli MMTS railway station, Outer Ring Road (ORR), Old Mumbai Highway and NH-65, which further links to prominent areas of the city.

The locality has easy access to prestigious schools and hospitals in its near vicinity. It is close to offices of IT companies like Infosys, TCS, Wipro, Microsoft India, Accenture, Capgemini, Cognizant Technology, Genpact, Amazon and HCL Technologies. It serves as a preferred residential destination for people employed in the nearby IT parks and corporate campuses.

Some of the branded residential projects here include Aparna CyberZon, Aparna Cyber Commune, Aparna Sarovar Grande, Ramky One Kosmos and Manjeera Diamond Towers. The construction of Aparna Sarovar Zenith is expected to complete by June 2022 and the flats are available for sale at a starting price of Rs 98 lakh price.

The company has another project under construction - Aparna Cyberscape, in which the premium flats are being sold at a price of Rs 6,399 per sq ft. The construction of this project is likely to finish by March 2023. It has recently launched Aparna Sarovar Zicon in the same locality offering at a price of Rs 7,199 per sq ft. It plans to handover by September, 2024.

The home buyers and investors, including non-resident Indians (NRIs), are confident that they wouldn't get a higher appreciation for their money at other localities of the city similar to that seen in Nallagandla. Considering the gradual growth in real estate rates and higher rentals here, many people are buying houses in this locale as second investment property. Tellapur has a lesser number of branded apartments when compared to Nallagandla. Aditya Silicon Heights, Radhey Sancia, Visions Urjith, GreenmarkMayfair, The Ozone Heights and Aliens Space Station 1 Cassini Towers are some of them. The construction of Cassini Towers has been delayed for more than a decade.

A real estate broker from the area, on condition of anonymity, said: "Several cases are filed at State Consumer Forum against Aliens Group. Almost all banks have red-listed the company and not providing loans to it. However, the project has not yet stalled and Aliens Group Managing Director Hari Challa has been putting all his efforts to complete it in coming 3-4 years." Owing to its proximity to IT employment hub, ORR and other infrastructural developments in the neighbourhood, Tellapur is a promising premium residential zone in the city. It is very close to Hyderabad Central University and BHEL Township. It has easy access commercial complexes, including supermarkets, schools, restaurants, fitness centers, hospitals and banks.

Kollur village and panchayat is another residential hub in Ranga Reddy district. Located near the ORR, it is a major junction in this stretch. Praneeth Jaagruthi Elite, GSR Sri Meru, Tribhuja, Signature Altius, Ira Aspiration and Shree Gold Mine are some of the ongoing apartment projects in the area that are expected to complete in next couple of years. Telangana government's award-winning double bedroom housing project is also in Kollur. The Greater Hyderabad Municipal Corporation (GHMC) has completed the construction of 117 towers and 15,600 houses at a cost of Rs 1,408 crore. The largest condominium project in Asia is ready for inauguration.

B Umesh, a property consultant in this area, said: "While Nallagandla has seen 40 per cent hike in the property prices in the past five years, its adjacent locality Tellapur also witnessed about 30 per cent rise during this period. The apartment construction activity has picked up in Kollur just around 2-3 years ago and it is expanding towards Mokila and Shankarpalli."

"As both Nallagandla and Tellapur areas are full of gated communities and standalone apartments, Kollur has become the next realty hotspot in the suburb for villas and affordable housing units during the last few years. Branded realtors are looking towards this locality as a lucrative investment option for developing villa projects," he added.