MIYAPUR Corridor Description and Rating Areas Included: Miyapur, Chandanagar, Nizampet and Bachupally
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Corridor of growth MIYAPUR Corridor Description and Rating Areas Included: Miyapur, Chandanagar, Nizampet and Bachupally Fig 1: Map of the corridor 02 Corridor of growth (COG) About the Corridor Introduction In case of Bachupally, demand drivers exist corridor in the re-sale segment is within towards the north of the locality as well. the Rs 20-40 lakh bracket. A further 29% The Miyapur Corridor represents the north- There are pharmaceutical manufacturing is in the Rs 40-60 lakh segment. Together, westward expansion of Hyderabad along units across the Jawaharlal Nehru Outer the Rs 20-60 lakh segment accounts and off the National Highway-9 (NH-9) Ring Road as well as IT establishments for 91% supply in the re-sale segment. which is more popularly known as the within a 6-7 km radius. Evaluation of consumer preference in Mumbai Highway. It consists of mixed-use the corridor shows that almost the same and residential localities like Miyapur, This corridor is part of the overall growth percentage of consumers are looking for Chandanagar, Bachupally and Nizampet. corridor of the city as it expands north- options within the Rs 20-60 lakh segment. While Chandanagar and Miyapur are westwards from multiple nodes. This highlights the price sensitive nature of located along NH-9, Nizampet is situated Present Status demand in the market. at some depth from it while Bachupally is farthest out and beyond Nizampet. Development in the corridor is happening The average price level in the market is Rs Chandanagar, Miyapur and Nizampet are along and off existing roads. In 3,000 per sq ft. Miyapur and Chandanagar established residential cum commercial Chandanagar, development is off the NH-9 have options in the Rs 3,200-3,400 per areas while Bachupally is an upcoming while in Miyapur it is off NH-9 and along sq ft price range, while capital values in destination. the Miyapur-Bollaram Road. Bachupally Nizampet and Bachupally are on the lower is further down this road. Similarly, side. The price level in these localities is in The corridor has evolved as the development in Nizampet is off the the Rs 2,400-2,600 per sq ft range. development pushed outwards from the Nizampet Road which touches Bollaram core IT/ITeS offices and residential hubs In line with general market trend, the price Road in the north and NH-9 in the south. of Madhapur and Gachibowli. The first level in the corridor has been stagnant for phase of this outward shift was towards The corridor has a mix of apartments and some time. The overall price increment in Kukatpally/Kukatpally Housing Board and plotted development. Bachupally has more all the localities of the corridor has been Hafeezpet. Spill-over demand from these plotted development options because under 10% for the last two years. areas for less expensive residential options of availability of land in the area. About Infrastructure (purchase as well as rental) was captured 65% supply in the re-sale segment in the by development in the Miyapur Corridor. corridor is of multi-storey apartments The major infrastructure project in The capital value drops as distance from followed by builder-floors/independent the corridor is the development of the the IT/ITeS corridor increases in the north/ floors. The 2BHK format dominates across Metro node at Miyapur. The Miyapur-LB north-west direction. property types with a saleable area of Nagar Metro route is being developed as 1000-1200 sq ft. This accounts for 61% Corridor-1 with a distance of about 30 Apart from the IT/ITeS sector, the supply in the re-sale segment with 3BHK km. Miyapur to SR Nagar and SR Nagar to corridor also benefits from the presence units having 35% share. The 3BHK units LB Nagar are referred to as Stage-2 and of government and private sector are bigger in size with an average saleable Stage-5, under the overall work plan of the manufacturing units. Bharat Heavy area of 1500 sq ft. Hyderabad Metro Rail network. Electrical Limited (BHEL), a leading Public Sector Undertaking (PSU) is located Miyapur, Chandanagar and Nizampet are As per latest information, Phase-1 west of Chandanagar. There is a large amongst the top 10 localities by consumer comprising of Nagole to Mettuguda industrial area located in the north-west preference in the city when it comes (Stage-1) and Miyapur-SR Nagar of the corridor known as the Industrial to purchase of a residential property. (Stage-2), will become operational in the Development Area Bollaram (IDA Similarly, in terms of consumers looking for first week of June 2016. Operationalization Bollaram). It extends from Bollaram Road rental options, Miyapur is again amongst of this line will build connectivity to up to Outer Ring Road (ORR). Dr Reddy’s the top 10 localities of Hyderabad. the corridor with other residential and Laboratories has a manufacturing unit commercial areas of Hyderabad. In terms of price level, the corridor caters in this zone. Coca Cola India also has a to consumer preference in the lower price The state government has announced bottling plant off the same road. bracket. More than 60% of supply in the plans for extending the Phase-1 of the 03 Corridor of growth (COG) Hyderabad Metro. From the corridors Social Infrastructure that leasing of office space by IT/ITeS perspective, the metro line is expected companies in Hyderabad has picked-up. Most of the corridor is served by well to be extended by a further 13 km from Vacancy level in the office space segment evolved social and support infrastructure. Miyapur to BHEL and Patancheru. The is at a historically low as the office space The whole area along the NH-9 in the timeline for implementation of this take-up increased in 2014 and 2015. An corridor is an established market with segment has not been declared. important point to understand here is commercial and retail joints. A number that most of the employee base of the IT/ An Inter-City Bus Terminal (ICBT) is also of local and international schools are ITeS companies is young and in the lower planned to be developed at Miyapur. operational along with colleges offering income level (relative to industry salary However, the development timeline for the graduate/post graduate education. levels). Such employees seek affordable same is not clear at present as the proposal Outlook rentals and purchase options. The Miyapur is awaiting some clearances. Corridor with its competitive price level, is The political uncertainty which had The corridor has faced water supply perfectly placed to address this demand. persisted for a couple of years had a problem in the summer season when negative impact on the realty market of However, the price level is not expected due to low water level in the reservoirs, Hyderabad. Political stability is likely to to see major gains as this would put the water supply was erratic coupled with low give a push to the market. This stems from market out of reach for people who form pressure in the government water supply the fact that many large infrastructure the consumer base for the corridor. network. Residents had to take recourse to projects which had been stuck will finally purchasing water from private vendors. Overall, the corridor offers good residential be started and their implementation will options to consumers looking for However, Hyderabad Metropolitan Water have a positive impact on the market. affordable homes in a well-established Supply and Sewerage Board (HMWS&SB) is The IT/ITeS segment is a strong demand area with good connectivity and social working on a plan to improve the pipeline driver for realty in the corridor as well infrastructure. work in Serilingampally Circle. This will as in other areas. Recent trends show improve the water supply of the corridor. Overall Connectivity Social Infrastructure Security/Water Properties available in the corridor he corridor offers relatively less localities with higher capital values (Rs/sq More than 50% supply is within Rs 20-40 expensive options for consumers as ft). Bachupally and Nizampet come next. This lakh bracket. A further 35% is in the Rs 40-60 Tcompared to localities which are closer price differential impacts the budget and BHK lakh segment. Together, they account for 89% to IT/ITES office hubs. Within the corridor, format wise spread of options. supply. This highlights the price sensitive Miyapur and Chandanagar are established nature of the market. Most of the supply in Fig 2: Distribution of properties by price Fig 3: Distribution of properties by delivery status Fig 4: Distribution of properties by bedroom configuration 04 Corridor of growth (COG) Table 1: Sizes and prices of flats available for the Rs 20-40 lakh segment is in Nizampet the supply in the 2BHK format is in the Rs 20- various room configurations and Miyapur localities. Miyapur, followed by 40 lakh price bracket wherein Nizampet leads Sales Price Covered Area Chandanagar and Nizampet, accounts for bulk with the highest share of 2BHK options. The ( Lacs) (Sq.ft) of supply in the Rs 40-60 lakh bracket. 3BHK is the second most preferred category 1 BHK 15-30 510-950 and most of it is concentrated in Miyapur. In In a price sensitive market, the smaller 2BHK budget terms, 60% of 3BHK options are in the 2 BHK 20-50 950-1250 format with an average size of 1150 sq ft Rs 40-60 lakh price bracket with almost 75% 3 BHK 35-80 1350-2200 dominates the supply; its small size helps a being in the 1300-1700 sq ft size range. 4 and Above 82-100 2500-4000 consumer to keep acquisition cost low.