High Time to Invest in Real Estate at Hitech City
It is no doubt that Hyderabad's booming IT sector is giving a tough competition to other IT cities like Bangalore, Delhi, Pune and Mumbai. Hyderabad aims to be crowned India's New IT Capital, with its HITECH City as an important industrial IT hub. The ‘Hyderabad Information and Engineering Consultancy’ city is abbreviated as HITECH city and is located 15 km from the centre of Hyderabad.
The ever-growing campuses of Information Technology, Health Informatics, Engineering and Bioinformatics, are located in the HITECH city. The ample employment opportunities, great connectivity and easy accessibility make this area more prominent. The leading builders such as Larsen & Toubro Limited, Ramky Constructions, Prestige Group, Lodha Group, Salapuriya Developers, Mahindra Lifespaces Developers and DSR Infrastructures Pvt. Ltd all are investing aggressively in the HITECH City.
As the suburb is located in the Cyberabad development area of Hyderabad, it is now a division of the Hyderabad Metropolitan Region.
The major factors contributing to the fast growth of real estate in HITECH city are:
1) Better Connectivity & Transportation Facilities
This industrial hotspot has great connectivity with roads and railways. It is connected via Ring Road, and the Gachibowli Flyover is just 10 minutes away from this area. Availability of TSRTC and private buses at regular intervals is connecting it to different parts of the city and saving commuters time significantly.
The HITECH City MMTS is the nearest train station to this suburb, and the Sanathnagar train station is 6 km from this area. The Rajiv Gandhi International Airport is reachable within one hour from the city of Hitech.
The suburb is located near to the financial capital Gachibowli and other areas like Madhapur, Manikonda and Kondapur, are also close to it.
2) Development of Educational & IT Corridor
Top educational institutions such as Indian Business School, IIIT - Hyderabad, Abor International School, Sanskriti and many other schools are located in the vicinity of HITECH City. The other basic utilities, such as banks, supermarkets, hospitals and restaurants are easily accessible from this area.
The suburb also houses some major companies such as IBM, Google, Microsoft, Toshiba, Facebook, Wipro, TCS, Oracle and much more.
3) Rise of Residential Real Estate
The real estate market is flourishing in HITECH City due to the influx of a large number of IT professionals in the city. Many residential projects are being developed in the suburb, adapting to the needs of the people.
People in this area prefer to reside in flats, gated community apartments due to its affordability as compared to independent houses which are astronomically costly. Thus, several 2, 3 and 4 BHK apartment projects are launched at reasonable prices. You can easily find affordable to premium luxury residential real estate projects in HITECH city and its surrounding area.
4) Metro Project
The next metro project is the main growth factor in this area. This will further increase the connectivity in the city. Real estate prices will rise and investors can get a high valuation in HITECH City after the completion of the project. In Conclusion:
The Hyderabad real estate property market is showing tremendous potential of growth in recent years, with residential and commercial activities occurring at an excellent rate. The city’s real estate market is performing superbly well on its comeback trail after last year’s new real estate regulations. Its commercial rental space is beating all other cities in this real estate segment. Hence, HITECH City can be considered to be the right choice to invest at this time whether residential or commercial, as the infrastructure is growing and the prices too!