Read Time: 3 minutes
The recently inaugurated new Hyderabad metro line between Ameerpet and HITEC City is considered as a biggest infrastructural development till date. With the commencement of this line, not only traffic on the roads will come to ease but the city’s realty market will also be going to spur with a rise in property price in key areas falling on this route.
Opened for public use on March 20, the 10 km blue line stretch comprises of 9 stations namely- Ameerpet, Madhura Nagar, Yousufguda, Jubilee Hills Road No. 5, Jubilee Hills Checkpost, Peddamma Temple, Madhapur, Durgam Cheruvu, Hitec City. Ameerpet station is also developed as an interchange station for the green and red line metro respectively.
Impact on the Real Estate Market
One of the busiest stretches, this route includes some of the key realty hotbeds of Hyderabad city. The real estate market of these areas has already gained prominence among the home buyers due to connectivity and well-developed infrastructure. Areas like Jubilee Hills, Hitec City are home to leading corporate houses, IT parks, and MNCs.
Let’s understand in details about these micro-markets:
Ameerpet: Located in the north-west of Hyderabad, the area includes many commercial and residential units and projects. It is also known as a popular education and software training hub of India. Apart from Metro, Ameerpet also enjoys smooth connectivity via local buses. At present, the average property price in this locality is Rs 5,177 per sq.ft.
Yousufguda: Another residential suburb, Yousufguda enjoys proximity to the IT hub situated in Madhapur. The locality is home to many educational institutions, sports complex, recreation centres, malls, and banks. Due to its proximity to the IT hub, many working professionals prefer to invest here. The average property price of the apartment in Yousufguda is Rs 4,950 /sq ft.
Jubilee Hills: One of the plush locations of Hyderabad, the locality is home to many prime residential and commercial projects. It falls between Banjara Hills and HITEC City. It houses residences of key Telugu Film actors as well as Politicians. Telangana Chief Minister KCR has his residence here. Apart from this, the area has also a flourishing commercial market with the presence of Taj Mahal Hotel, Barista, Starbucks, Coffee Day, Seaways, Gateway Media, Pricewaterhouse Coopers etc. Key media houses like NTV, TV-9, TV5, Rainbow Media, V6, CVR News, also mark their presence here.
Due to its affluence, the average property price here is quite high as compared to other areas.
Hitec City: Sprawling around 200 acres of area, HITEC City is home to many leading IT parks, MNCs and corporate houses. It is home to key campuses like Cyber Towers, Laxmi Cyber City, L&T Infocity, HITEX Exhibition Center, Hyderabad International Convention Center, Mindspace IT Park etc. Most of the IT working population resides in areas closer to the city due to better connectivity and transportation systems like Metro, local buses etc.
At present, the average property price here is Rs 6,192 per sq.ft.
As we can see that the property rates are already at the higher side in these areas due to better infrastructural facilities, so with the commencement of metro, the price will spur soon at a faster rate, suggest experts.