Hyderabad: After Madhapur and Kondapur (areas near the IT hub), NRIs, who form the significant section of investors in the realty market, are now increasingly investing in properties in the Adibatla and Ghatkesar areas (which are the secondary IT hubs of Telangana).
O. Kiran Babu, general manager (sales &marketing), Technopolis Construction Company, said, “NRIs who invest in properties, evaluate the future prospects of the area.
This was seen in the IT hub Hitec City, Kondapur, Madhapur, Attapur etc. Now, that area has reached its saturation point. Therefore, secondary IT regions like Ghatkesar, Adibatla are gaining in popularity.”
Enquires about properties in the region have increased. N. Suresh, of Vasanthi Housing Construction said, “Land price in Adibatla, which used to be Rs 2,500-4,000 per square yard in 2011-2013 is now Rs 8,000.
This is due to established IT companies and good road connectivity from the ORR. It takes just 40 minutes to cover a 40-km stretch from Hitec City.”
Interestingly, against the general assumption of regional feeling, more than 50 per cent of NRI investors are Andhraites who are hooked to brand Hyderabad, according to builders.
Mr Kiran Babu said, “Most of the NRI clients, including those from Australia, Dubai and the US, who are showing interest and also buying properties, are natives of Andhra Pradesh. They believe in the concept of brand Hyderabad.”
