Hyderabad: Kompally, one of Hyderabad’s fastest-growing residential areas, is set to become the major hub of north Hyderabad, with a thriving real estate sector and buyers lining up to buy properties.
According to experts, the establishment of posh residential units and a large number of commercial spaces demonstrates the area’s potential. With nearby areas such as Jeedimetla, Dhulapally, Alwal, Bollaram, Kandlakoya, and Medchal, the area is prepared for expansion.
The government’s decision to establish the Gateway IT Park in Kandlakoya, which is expected to employ 10,000 people, will also benefit the area. Several apartments, standalone buildings, gated communities, and independent houses are being developed in north Hyderabad, according to builders, and residential units are cheaper here than in western Hyderabad.
A flat in a standalone building costs approximately Rs 4,500 to Rs 5,000 per square foot, whereas each unit in a gated community costs roughly Rs 5,500 to Rs 6,000 per square foot. Plots cost between Rs 60,000 and Rs 80,000 per square yard.
Speaking to The New Indian Express, Ch Ramchandra Reddy, president of CREDAI Telangana, said, “Kompally will see a massive development in future. People from Nizamabad, Bodhan, Armoor and Kamareddy are showing interest in investing in real estate here. Since Gateway IT Park is coming up, this will give a big boost to realty in north Hyderabad.”
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