Hyderabad's Micro Markets: Kokapet, Tellapur, and Bachupally Shine Bright
Hyderabad's real estate landscape is changing rapidly, with prices increasing by 20-33% in one year in a few micro markets.
Hyderabad Real EstateMicro MarketsKokapetTellapurBachupallyAnarockReal EstateAug 28, 2024
Likewise, Bachupally has seen the price per sq.ft. rise to Rs 5,800 this year from Rs 4,700 last year. Another micro market, Tellapur, saw the prices hit Rs 7,350 per sq.ft. this year from Rs 6,100 per sq.ft. last year, according to data culled out by real estate consultancy Anarock.
The driving factors behind this growth are proximity to major IT hubs and excellent connectivity through the Outer Ring Road. Kokapet has emerged as a rapidly growing locality, driven by its proximity to major IT hubs and excellent connectivity through the Outer Ring Road. The area has seen the development of gated communities, high-rise apartments, and luxury villas to meet the growing demand for quality housing.
Tellapur is also in the proximity of the IT hub of the Financial District and the Outer Ring Road (ORR), making it one of the prime locations that draws in homebuyers and investors. As per Anarock Research, the area has seen 33% price appreciation in the last one year alone. IT-ITeS majors' campuses, including Wipro, Microsoft, and Infosys, have made Tellapur a popular place for housing development.
Bachupally now is a popular pharmaceutical hub and home to research and development centres of many global pharma manufacturers. It has seen 23% price appreciation in the last one year. The growth of these micro markets has been consistent over the last five years. Kokapet saw an 89% appreciation in the prices. Over 12,920 units of new supply happened here in five years, and more than 50% of the new launches were in the ultra-luxury category priced over Rs 2.5 crore.
Tellapur also finds place in the recent top ten micro markets list for new supply. It added 18,960 new units in five years, and about 66% of it came from the mid and premium segments. The remaining came from units in the Rs 1.5 crore and above price bracket.
Frequently Asked Questions
What is the current price per sq.ft. in Kokapet?
Rs 9,000 per sq.ft.
What is the main driving factor behind the growth of Tellapur?
Proximity to major IT hubs and excellent connectivity through the Outer Ring Road.
What is the price appreciation in Bachupally in the last one year?
23%
How many new units were launched in Kokapet in the last five years?
12,920 units
What is the price range of the ultra-luxury category in Kokapet?
Priced over Rs 2.5 crore
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