In the last decade, Hyderabad has become the new darling of IT firms and investors. With well-connected roads, great infrastructure, and relatively better air quality it has taken over from Bangalore as the new go-to destination for young professionals. Hyderabad was also recently ranked as one of the best cities to live in by Mercer. But with popularity comes real estate woes. With the city centre of Hyderabad being nearly filled up, property investors are looking to upcoming outlying areas.
Miyapur is one such suburb situated 22 kilometers away from Hyderabad. A village that was once ruled by some of the mighty rulers in the Deccan Plateau, Miyapur’s economy was primarily based on agriculture, dairy, and quarrying. Now, it has become one of the top 10 preferred localities for property investors in the budget segment. Here’s why.
Miyapur’s location and urban transformation
A part of Greater Hyderabad, Miyapur underwent a vast transformation due to its easy accessibility to Hyderabad via the Miyapur-Gachibowli and Miyapur-Kompally intermediate ring roads. It is also a stone’s throw away from well-established and upscale areas like Kukatpally and Nizampet. This, now busy, little town is within 50 kilometres of both the Rajiv Gandhi International Airport and the Begumpet Airport while Nampally Railway Station is 25 kilometres away.
Upcoming metro and bus station
The Miyapur-LB Nagar metro route is being developed as Corridor 1 under the Hyderabad Metro Rail network and will span a distance of 30 kilometres, which adds to the town’s attraction. Authorities have also undertaken multiple beautification initiatives, including wide pavements and special auto bays.
Miyapur is all set to have one of the biggest bus stations in Asia with the upcoming Rs 100 crore Inter City Bus Terminal (ICBT) planned by the Hyderabad Metropolitan Development Authority.
Property market of Miyapur
Miyapur is situated 11 kilometres away from Gachibowli and HITEC City, which are the most important commercial and IT centres of Hyderabad. This proximity has made Miyapur one of the most sought after areas for rented properties, apart from its affordability.
The average rental ranges between Rs 12,000 to Rs 30,000 for 2 to 3 BHK apartments making it a price sensitive market. Customers can also easily acquire a 2 BHK apartment in the range of Rs 20 to 30 lakhs and a 3 BHK apartment in the range of Rs 40 to 60 lakhs. The average price is Rs 3,300 per sq ft.
Miyapur has all the necessary civic amenities and a well-constructed social infrastructure. Reputed schools, hospitals, supermarkets, banks, healthcare facilities, and malls that are being developed at a rapid pace make the town a big draw.
In addition to its amenities, Miyapur also has a lot of natural beauty. It is surrounded by small hills and with the Ameenpur Lake situated nearby. Residents with a penchant for the outdoors have opportunities to hike, walk, and even do some caving amongst the hills.
The area has had some issues with water supply, particularly during summer but with its rising popularity, the Hyderabad municipality has a few measures on the anvil. This apart, Miyapur continues to grow in demand thanks to its overall development and charm.