Kompally emerges as residential hub
Its proximity to major urban centres has led to a surge in interest in recent times, primarily driven by substantial infrastructural development.
HYDERABAD: The regions in and around Kompally, Medchal and Shamirpet has emerged as a rapidly growing residential hotspot in the northern suburbs of Hyderabad. Its proximity to major urban centres has led to a surge in interest in recent times, primarily driven by substantial infrastructural development, which in turn has spurred significant growth in the real estate sector.
According to a report from Colliers International Group Inc., an investment management company, on top investment destinations, Kompally, Medchal and Shamirpet have become sought-after real estate destinations due to several favourable factors, including its strategic location, the substantial potential for capital appreciation and a wide array of housing options, including several premium gated communities.
Experts pointed out that the northwestern part of Hyderabad has evolved into the city’s largest employment hub, resulting in increased residential activity in and around its periphery. As prominent micro-markets become saturated over the years, neighbouring areas of Kompally, Medchal and Shamirpet have experienced a spillover in demand. These areas are highly regarded by homebuyers looking for a range of housing options.
In areas like Kompally and Alwal, a standalone flat costs anywhere between Rs 4,500 to Rs 5,000 per sq. ft., while units in gated communities command prices of Rs 5,500 to Rs 6,000 per sq. ft. For those interested in plots, prices typically range from Rs 60,000 to Rs 80,000 per sq. yard.
This corridor is getting recognition as a luxurious weekend and holiday home destination as well. It has witnessed the development of premium wellness resorts, nature resorts and gated communities with extensive amenities, experts said, adding that the area’s lush green surroundings, robust physical infrastructure, and existing and upcoming commercial hubs make it an attractive proposition for investors looking to capitalise on opportunities in the region. Several renowned schools, hospitals and shopping complexes have also come up in the area.
In terms of connectivity, the Rajiv Gandhi International Airport in Shamshabad and railway stations in Medchal and Gundlapochampally are easily accessible. It is also well connected to other key city destinations via the Outer Ring Road. Additionally, the corridor is located along the NH-44, connecting Hyderabad and Nagpur, providing one of the best road networks in the State capital.