A new competitor has entered the city’s tech corridor– Kompally. Although most of the city’s real estate trade is still inclined towards the alluring west side, this tranquil neighborhood to its north is fast becoming a favorite among many developers, retailers, restaurant owners and home buyers.
Easily approachable from RGIA airport
Over the last decade Kompally has witnessed residential property development ranging from gated communities to luxury homes developments.
This has led to it having a school, hospital, supermarkets, restaurants and bars and malls hence making it a self-contained place. Its location on NH 44 and easy access to the airport via ORR add to its appeal.
Gateway Technology Park up ahead The two IT towers in Kandlakoya that are large enough for hosting 15,000 workers should make this area even more attractive. “If I were to sum up why we moved here I would say ‘affordable Luxury’,” said Asha Nilkamal Dixit aged 36. The technical writer was only four years old.
She said: “I work remotely while my husband owns a bakery near Dairy Road. We relocated from Marredpally in 2020. We now rent a two bedroom house for £28,000 thereby saving time Money as well as energy.”
Though she added that mainly road connectivity with major cities remains a matter of concern for residents as roads and public transport are currently inadequate because the locality is quite self-sufficient “Kompally seems perfect after solving this problem,” she added.
The availability of schools poses big challenge to many parents. “My kids have been going here since 2018 but Secunderabad is full of challenges.
Cheaper than in West
“Begumpet or Banjara Hills can be very expensive places to live in and given that then it does make sense moving over here,” said Jaya Vijay Nath aged 38 who works at a bank.They bought a 2.5 BHK in 2019 for 70 lakh which was much cheaper than the Rs10 crore price of Banjara Hills or Jubilee Hills.
Vishal Goel, the founder said: “Over here, it costs only 50% as much as what parents in central and western Hyderabad pay per year on average for their children.” This is because of land cost and materials and lower human resource charges.
Boost activity
He added that the area’s attractiveness is also enhanced by its proximity to industrial belts such as Jedimetla, Balanagar and Bolarum that attract more people causing an increase in commercial activities.
Back then some residential properties were sold two or three times cheaper than those located in Secunderabad during late 2000s.
“After I retire I thought about buying property in Secunderabad where prices vary from £4,000 to £4,500 per sq ft. But instead I took a place at Suchitra for £2,500 per sq ft. At first it was inconvenient because there were no facilities around but slowly this area developed. Now there are all sorts of places one can go to; shopping malls…fine restaurants…. We don’t have to go far anymore,” said Ahmed, a seventy-year old resident of this place.” Ahmed Javeri added.
