One of the fastest-growing residential areas of Hyderabad, Kompally is set to become the hotspot of north Hyderabad with a booming realty sector and buyers lining up to purchase properties. Experts say the establishment of posh residential units and large numbers of commercial shows the potential of the area. With areas such as Jeedimetla, Dhulapally, Alwal, Bollaram, Kandlakoya and Medchal in the vicinity, the locality is set for a rise.
The government’s decision to set up the Gateway IT Park in Kandlakoya, which is expected to accommodate 10,000 employees will also do wonders for the area. According to builders, several apartments, standalone buildings, gated communities and independent houses are being developed in north Hyderabad and residential units are cheaper here when compared to western Hyderabad.
The cost of a flat in standalone buildings is around Rs 4,500 to Rs 5,000 per sq.ft while each unit in gated communities costs Rs 5,500 to Rs 6,000 per sq. ft. With regard to plots, one sq.yard is ranging Rs 60,000 to Rs 80,000. Speaking to Express, Ch Ramchandra Reddy, president of CREDAI Telangana, said, “Kompally will see a massive development in future. People from Nizamabad, Bodhan, Armoor and Kamareddy are showing interest in investing in real estate here. Since Gateway IT Park is coming up, this will give a big boost to realty in north Hyderabad.”
Good connectivity
The main advantage of north Hyderabad is that it is located on NH 44 connecting Hyderabad and Nagpur and offers one of the best road connectivities in the State capital. The other one being rail connectivity towards Mumbai, Nanded and Shirdi. Railways also provide MMTS connectivity to Bollaram and Medchal. Meanwhile, National Highways Authority of India has also proposed to construct three elevated corridors at Suchitra/Dairy Farm junction, Cine Planet/ Jeedimetla junction and Kompally/ Dhulapally junction, covering a total of 10 km.
