The Gachibowli district in Hyderabad has for the last few years gained an international reputation as a booming tech hub. It is often referred to as India’s Silicon Valley and has attracted a number of multi-national companies. Household names such as Facebook, Google, Microsoft and Dell all add an exciting international flavour to Gachibowli’s postcode.
Uber, the taxi app that has taken the tech world by storm is contemplating investing 50 million in the Hyderabad suburb. This boom is attracting technology and finance professionals from across the globe and this has inevitably led to a lot of activity in Hyderabad’s real estate sector. R Suresh Kumar heading the Prestige group developments in Hyderabad had this to say about Gachibowli when speaking to the Times of India, “As I see it over the next 10-15 years, all the real estate development in Hyderabad will be concentrated in this area.”
The prestige group are building Disney themed apartments in the area, which are set across 21.85 acres, the flats will spread across ten high rise towers with size ranging from 2 – 5 bedroom units. The company advertises how the future development is conveniently located next to the offices of Microsoft, Polaris and Wi Pro but also near prestigious educational institutes such as Hyderabad University and The International School of Business. This shows that there is real potential to rent out properties to students in this area and could be another source of investment in addition to residential properties for the salaried class of the city.
The prestige group are not the only ones embarking on building these urban utopias in Gachibowli. The Rajapushpa group are undertaking a project titled Atria, which is typical of these lavish new developments, set in a gated community with high rise towers filled with exquisite luxury apartments. ITV news recently did a report on Gachibowli where they visited the Oakwood residence which boasted a swimming pool, fitness centre and lavish restaurants.
For any investor price is key and according to T K Reddy head of the Lansum development group, property in the region is “affordable” in fact they are the lowest “in comparison to other metros in the region.” If one wanted to purchase one of these lavish developments for buy to let the price range starts at approximately £36 pound per square foot or 3600 rupees. This certainly isn’t an overly expensive area for those looking to build their portfolios. In addition to the reasonable price the opportunity to be part of this exciting, vibrant technology playground will be sure to excite many investors. Gachibowli, Hyderabad: A booming tech hub now becoming a property investors dream