Situated in the Rangareddy district, Adibatla is not a well-known area yet but with several companies looking to set up their bases in the eastern part of the city, realty experts say that it is set to become the Kokapet of east Hyderabad.
According to housing.com, an online real estate agency, Adibatla has become a popular location for wealthy investors due to its proximity to Sagar highway, Srisailam highway and the Outer Ring Road, which helps it connect to Bongulur, Raviryal, and Srinagar. Plots, fields, apartments, residential homes, and villas are among the many housing possibilities given by Adibatla, a desirable area, it said.
As it is situated around 5 km away from Raviryal, which is already witnessing a realty boom, Adibatla is also seeing an increased demand for flats and plots, realtors said.With the offices of Tata Advanced Systems and a Boeing defence space and security facility situated in the area, the price of flats is already seeing an increase. Additionally, around 15,000 employees of the Tata Consultancy Services (TCS)-Adibatla campus also live in the adjoining areas. Currently, a flat goes for Rs 4,000 per sq ft while a 1,200 sq ft double-bedroom house costs around Rs 50 lakh.
Realtors said that owing to the high concentration of companies and people in the western part of the city, there is an opportunity for the development of areas such as Adibatla and Raviryal, which have abundant space and infrastructural facilities. Additionally, owing to the high demand, the cost of land has become extremely high, discouraging companies, builders and even buyers, they added.
Ch Ramchandra Reddy, chairman of CREDAI Telangana chapter, said, “Builders are coming with a lot of 2BHK, 3BHK and 4BHK projects in Adibatla and Raviryal. In the future, Adibatla will see a boom in real estate. At present, the cost of flats ranges between Rs 4,500 and Rs 5,000 per sq ft while open plots are available for Rs 7 crore to Rs 8 crore.”
Over the next 10 years, the aim of the government is to help the electronic manufacturing sector register Rs 2.5 lakh crore in revenue as well as create 16 lakh new jobs in the State. This would give a lot of boost to the realty sector in future, he added.
Proximity to offices of MNCs
With the offices of Tata Advanced Systems and a Boeing defence space and security facility situated in the area, the price of flats is already seeing an increase. Additionally, around 15,000 employees of the Tata Consultancy Services (TCS)-Adibatla campus also live in the adjoining areas.