Balanagar: Next Hotspot for Affordable Living Near IT Corridor

Buying residences in the IT corridor has become a financial burden for many people. As a result, they are moving to suburban areas where they can find homes at budget-friendly prices.

Many areas have developed this way, with locations up to the Outer Ring Road (ORR) becoming popular residential centers.

However, some individuals struggle with the feeling of being far from their workplaces and are seeking affordable options within the city itself.

For these people, the area around Balanagar is offering new hope as it emerges as a new micro market.

Balanagar has long been known as an industrial town. It is home to central institutions like NIFER, the National Remote Sensing Center (NRSC), and the Central Institute of Tool Design, located in Koluvudiri.

A major company, Indian Drugs and Pharmaceuticals (IDPL), which provided employment to thousands in the region, closed down long ago, leaving hundreds of acres of land behind.

As it is primarily an industrial area, there are not many residential options. While gated communities have spread beyond Balanagar to Chintal and Gundlapochampally, they have not yet established themselves here.

Recently, however, many industrial estates in the city center have begun transitioning into residential areas, and Balanagar has joined this trend with new infrastructure.

The arrival of the Balanagar metro station has made the area more favorable for residents.

Traffic issues have been alleviated with a flyover constructed by GHMC. Social infrastructure is also improving, making it a peaceful place to live. Malls and multiplexes are being developed around IDPL lands, surrounded by greenery.

Nearby, engineering colleges are located close to the ORR, and there is good transport access thanks to the metro station at Kukatpally Y Junction.

The construction of a large mall is nearing completion. Various routes are available to reach the IT corridor, which is just 13 km away. Secunderabad Railway Station is also nearby.

Overall, this area in the heart of the city is attracting attention due to the arrival of significant projects.

Construction of Skyscrapers:

Gated communities of skyscrapers are under construction along the Kukatpally V Junction to Balanagar Narsapur Road. Some new projects are being developed, and construction companies report a positive response from buyers. One builder noted that this is the only area close to the IT corridor in the city center.

Although flat prices here are slightly higher than those near the ORR, IT employees, workers from nearby MSME organizations, and businesspeople are interested in purchasing.

Before making a purchase, it is important to check for the necessary permits. Ensure that GHMC approvals are in place for city projects and HMDA approvals for suburban ones.

Confirm that RERA registration has been completed after obtaining permissions from local authorities, and verify that the RERA number has been received.

For projects near ponds, make sure they are not in the buffer zone by checking the Full Tank Level (FTL).

A final decision should be made only after visiting the construction site directly.