HYDERABAD: Patancheru, once considered a poor cousin of city of Hyderabad on the outskirts, filled with polluting industries, is developing into a hot destination for real estate, with many industries being shifted outside ORR.
Located in the north-western end of Hyderabad on the Hyderabad-Solapur highway, and around 18 km from the IT corridor, Patancheru is witnessing brisk sale of flats and plots, post Covid-19 with settlers preferring to buy properties here given the affordable rates. Since it is very near to the Outer Ring Road, the Rajiv Gandhi International Airport (RGIA) can be reached very quickly.
Besides this, the old Bombay highway is a big advantage as it provides a better road connectivity between Hyderabad and Sangareddy. International Crops Research Institute for the Semi-Arid Tropics (ICRISAT) for rural development located here is another added attraction. According to realtors, Patancheru has a good potential to become a residential hub for those who want to settle in Hyderabad. Once it becomes pollution free, there would be a spurt in land costs here, they said.
At present, the cost of an acre of land ranges between Rs 4 crore and Rs 8 crore. A 200 sq-yard house plot can be bought within a budget of Rs 30 lakh to Rs 40 lakh. An apartment costs anywhere between Rs 4,000 and Rs 5,000 sq.ft and 2 BHK flat costs about Rs 40 lakh.
Speaking to Express, CREDAI Telangana Chairman Ch Ramchandra Reddy said that many layouts have already come up in Patancheru along with gated communities. “Since development is continuing till Sangareddy, Patancheru has a lot of potential for overall growth. Accordingly, developers are planning for more projects.”
Recently, the State government has given administrative sanction for construction of a 200-bed super speciality hospital at a cost of Rs 185 crore. A diagnostic hub has also come up here. Another major attraction of Patancheru is its Medical Devices Park, which is one of the biggest such facilities in the country, generating a direct employment for 7,000 people. It’s also home to India’s first 100 per cent women-owned industrial park which has come up on 50 acres in Sultanpur.
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