Unexplored Kompally holds promise for all. Decent amount of green cover and comparitively cleaner air and water makes Kompally a major attraction for buyers and developers. Good roads and proximity to industry hubs are added advantages. Property buyers are keen to move towards the suburbs of the City for the greenery and lesser pollution, and to live in large and open spaces they offer. As long as the roads are wide and there is less traffic to their place of work, residents do not mind travelling those extra kilometres to live in their dream house. Real estate developers are also coming up with world-class gated community projects mostly in the outskirts of the City due to the availability of large spaces. Kompally is one such suburb located near Secunderabad, which is attracting both the developer and the buyer thus driving the real estate market here. This is one of the best residential zones in the City because of abundant greenery, water, clean and fresh air. Earlier a village, many residents in the City set up large farmhouses in this area for its picturesque beauty. Even now, many hold large spaces, which support plentiful greenery. There also is a reserved forest in the area that is under the control of government, adding to the greenery. The infrastructure in this area is better compared to other newer locations in the City. The roads are wide and well connected to areas Like Secunderabad and Miyapur. Kompally is also very close to the outer ring road and is adjacent to NH7. Gundlapochampaly, which is near Kompally, also has an MMTS station, from where trains ply as frequently as every 45 minutes to Secunderabad. Also, an ongoing development of the railway line is likely to increase this frequency. A property appeals to a buyer only when it attracts tenants and its value appreciates over time. The demand of this zone is driven by pharmacy majors that are close by, followed by many seed research companies. The founders of small and medium enterprises in Medchal and traders in Secunderabad are also choosing this area for Kompally is not too far from these areas. There are many seed research companies in this area, which are propelling the realty growth. Like we have IT in the south-west Hyderabad, biotechnology is evolving in this area. Scientists who work in these companies are paid at par with IT employees. Most of these people are migrants and want to buy or rent property in a gated community. Natives of Karimnagar and Nizamabad also prefer this locality since visits to their families during weekends is easier from here. Most properties are single tower apartments developed by organised players. The locality also prides itself of projects by Aparna, Koncept Ambience and ARK Builders. The base price is around `2,300 per square foot for a flat in a gated community here. According to realtors, one may expect this price to appreciate between 10 and 15 per cent every year.
Posted on: Sun, 09 Jun 2013 17:17:43 +0000
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