North Hyderabad emerges as residential hub

HYDERABAD: The regions encompassing Kompally, Medchal, and Shamirpet have recently emerged as rapidly growing residential hubs within the northern suburbs of Hyderabad. This surge in interest is primarily attributed to their proximity to major urban centers and substantial infrastructural development, which has, in turn, stimulated significant growth in the real estate sector.

According to a report by Colliers International Group Inc., a notable investment management company, Kompally, Medchal, and Shamirpet have become highly sought-after real estate destinations due to various favorable factors. These include their strategic location, substantial potential for capital appreciation, and a diverse range of housing options, including premium gated communities.

Experts have pointed out that the northwestern part of Hyderabad has evolved into the city's largest employment hub, leading to increased residential activity in and around its periphery. As well-established micro-markets become saturated over time, neighboring areas like Kompally, Medchal, and Shamirpet have experienced a spill-over in demand. These regions are highly regarded by homebuyers seeking a variety of housing choices.

In areas such as Kompally and Alwal, standalone flats typically range from Rs 4,500 to Rs 5,000 per sq. ft., while units within gated communities command prices ranging from Rs 5,500 to Rs 6,000 per sq. ft. For those interested in plots, prices generally range from Rs 60,000 to Rs 80,000 per sq. yard.

Furthermore, this corridor is gaining recognition as a luxurious weekend and holiday home destination. It has witnessed the development of premium wellness resorts, nature retreats, and gated communities with extensive amenities.

Experts highlight that the area's lush green surroundings, robust physical infrastructure, and the presence of existing and upcoming commercial hubs make it an attractive proposition for investors looking to seize opportunities in the region. Additionally, several renowned schools, hospitals, and shopping complexes have emerged in the area.