Kondapur, which falls, in the Ranga Reddy district of Andhra Pradesh is considered the rising ground of IT industry in Hyderabad. It is a popular residential option amongst the IT workforce as the IT hub is located very close on the Madhapur-Kondapur stretch.
A couple of years ago, Kondapur were the most sought after locality in Hyderabad. After the lull in the property market, the real estate development of Kondapur slowed down. The residential market of the locality has picked up in the last few months. The types of buildings found here are multi-storey apartments, villas and single floor apartments. The capital value of these properties is between Rs 33 lakh to Rs 2 crore plus. Residential plots are also available in abundance and cost about Rs 44 lakh onwards.
Some of the upcoming projects in Kondapur are Tulip Le Park by Walnut & Crimson Realtors Private Limited, North East Sneha Arcade by North East Constructions, Luxor Apartments by Trishala Infrastructure Pvt Ltd, Nestcon Flamingo by Nestcon Builders Pvt Ltd and Pranavas Lotus Park by Pranava Avenues Group among others. The budget of these new projects is between Rs 31-61 lakh. The rental value on Kondapur varies between Rs 12,000 to Rs 1 lakh.
The social fabric consists of supermarkets, schools, clinics, cinema halls and exhibition centers. Transport facilities are also adequate. Autos and buses connect adjoining localities such as Secunderabad, Miyapur, Uppal, Koti, and Mehdipatnam. The closest railway station is in Hafizpet, Hi-Tech City, which is about 4-km. Kondapur, therefore, appeals to the workforce for its good housing facilities and well developed social and civic infrastructure.
According to Mirza Yousuf Baig, a real estate broker says, “Properties in Kondapur are still in demand. People working in the nearby IT companies prefer to stay here because of the close proximity. The neighbourhood is fully developed owing to the influx of people in the last few years.”