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Kokapet emerges prime realty destination in Hyderabad
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Kokapet has emerged as the front-runner in Hyderabad’s highly competitive real estate market, driven by its growing importance as a key growth engine for Telangana’s burgeoning IT sector
Hyderabad: Kokapet has emerged as the front-runner in Hyderabad’s highly competitive real estate market, driven by its growing importance as a key growth engine for Telangana’s burgeoning IT sector. Its strategic location in close proximity to major IT hubs has made it an extremely desirable residential destination for the working-class populace of Hyderabad, who view it as an ideal location to buy and invest in property.
Undoubtedly, western Hyderabad has emerged as a dominant player in the residential real estate market due to two primary reasons. Firstly, the rise of employment opportunities in the numerous IT parks located in the region, particularly in the Financial District, has driven the demand for residential properties. Secondly, the excellent connectivity in the area has made commuting easier, further adding to its appeal.
The Telangana government has proposed an innovative ‘walk to work’ concept for the development of an integrated township. This concept aims to bring office spaces closer to upcoming residential areas to reduce the need for travel and alleviate traffic congestion. The government plans to encourage developers to establish such townships wherever 100 acres or more are available under the HMDA and 50 acres or more are available under a municipality, as per the new Municipal Act.
Speaking to The Hans India, Rebridz Realtors LLP said, “As of now in Hyderabad, Kokapet, Tellapur are emerging as a favourite for many residents in the city. The gated communities coming up in this area are a major attraction among several residents.
The infrastructure is significantly improving as it is not deterring any resident in purchasing the property here. Most importantly, there are several IT Special Economic Zones (SEZ) located in this area that enthuse the property owners and residents for the purchase of property in this area. Today, 2BHK property in this area is costing around Rs 1 crore.”
The primary catalyst behind Kokapet’s growth is its strategic location. The micro-market is situated along the 158-km long, eight-lane ring road expressway that traverses through key nodes such as the Financial District, International Airport, IKP Knowledge Park, and Hardware Park.
Speaking to The Hans India, Dhanush Reality, says, “In Kokapet area, currently we need to spend Rs 1,10,000 per sq. yard in open plotting and Rs. 6,500 to 7,000 per sq ft in residential complexes. Overall, real estate is thriving very significantly as they anticipate that most of the IT/ITes companies are likely to see huge investments in this area.”
