The flow of many MNC's and global giants like Microsoft and Franklin Templeton into Gachibowli, has made it one of the richest suburbs in India. The current average salary here, being 60,000 Per Month which is several times the Annual Average income of an Indian!
 | MAP: Gachibowli |
The Areas of Gopanpalli, Nallagadla, Tellapur beside Gachibowli has been declared by the Urban Development Agency of the city ( HUDA ) as High-rise Zone. This is done to enable construction of skyscrapers which will house the teaming tech population of Gachibowli.
Already more than 6000 highly paid people are working in the campuses at Gachibowli. Within next 4 years, the number would go to a solid 25000 people, working on cutting edge technologies, for delivery across the world. At the very senior executive levels, there would be at least 500 expatriates, returned Non Resident Indians ( NRIs ) or Persons of Indian Origin ( PIOs ) who require world class, spacious, villas to stay.Coupled with this, the construction of US Consulate here, would give extreme visibility to Gachibowli and hence form magnetic attraction for further investments.
Commercial Development:
To take care of the needs of the rich clientele, several large infrastructure and construction firms are rolling in world class Residential. Commercial and Entertainment projects. Malls, Super Markets and Multiplexes of the kind seen only in Silicon Valley, is now being built by companies like IVRCL, DLF and LANCO. The Crowning Glory would be the 90 story residential tower under early development!
Already, an Expressway of 20KM is under construction, directly connecting Gachibowli to the upcoming New International Airport. Gachibowli will be aproned by the 160 KM Outer Ring Road another ambitious project which would circle the City!
Just 2 KM from the Central Area of Gachibowli is the "Golden Mile"; the high profile corporate business zone where Corporate Offices and IT Parks would be built during the next 2 years. The recent auction of land in this stretch by saw frantic bidding activity by large companies. 4Km away, beside the Express Highway, at Manchirevula, APIIC( Andhra Pradesh Industrial Infrastructure Corporation ) is in the process of developing Business District where among others a Twin Tower of 60 Floors would come up.
The Areas of Gopanpalli, Nallagadla, Tellapur beside Gachibowli has been declared by the Urban Development Agency of the city ( HUDA ) as High-rise Zone. This is done to enable construction of skyscrapers which will house the teaming tech population of Gachibowli. HUDA has indeed done careful planning and the advance action taken by it, need to be appreciated.
Otherwise, pressure on scarce land available between Gachibowli and the Outer Ring Road would have been too heavy and the tech population in Gachibowli, would have been forced to live away, resulting in huge traffic bottlenecks and burning scarce petroleum resources!
Its rare to find a locality in India where such large scale developments are planned over the next few years.
Residential Demand:
If we put Gachibowli, Golden Mile, Business District at Mancherevua and Lanco IT Park together the upcoming demand for housing ( Assuming a very pessimistic figure of just 25,000 employees in above areas, other than Gachibowli ), would be above 50000 apartments and Villas, spread over 5 to 6 years.
With development of commercial centers and the spanking new residential communities, in the coming years,Gopanpalli, Nallagadla, Tellapur, Narsingi etc would see large scale occupation.
Investment Opportunity:
With such developments in the offing, Gachibowli and surrounding areas offer unparalleled opportunity for the smart ones to invest, in Real Estate.
December 2006:
Plots : Current Price Rs.14000 to 20000SQD
Payment Completion: 1 to 3 MonthsExpected Price: 25000 to 35000/sqd by 2008 Dec
Villas Current Price: 150 Lakhs to 200Lakhs
Construction Period Over 3 Years
Expected Price: 300L to 400L by 2008 Dec
Luxury Apartments Current Price: 40 Lakhs to 70Lakhs
Construction Period Over 2.5 Years
Expected Price: 70L to 120Lakhs by 2009 Dec
Note: Its important to note that the payment can be made over longer period. Buying later at delivery time, would require immediate larger funding, at the then market price.
Historic Comparison:
The large scale construction activity in the surrounding areas of Gachibowli has started only in 2005. The situation is akin to commencement of such work in Hitec City suburbs in the year 2000.
By 2006, we have seen real estate prices zooming several times. Land prices near Hitec City zoomed from Rs.2500 per SQD to Rs.25000/SQD. Duplex houses from Rs.50Lakhs to 250 Lakhs and above. Medium Sized Apartments from Rs.9 Lakhs to Rs.40 Lakhs.
Source: www.exclventures.com
