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How Hyderabad Metro Impacted Miyapur Real Estate
PropTiger.com  |  November 27, 2019

Surbhi Gupta

Located along the Mumbai Highway, Miyapur is now counted among the popular localities in Hyderabad. The locality also enjoys a Metro connectivity through the Red Line, which directly links it with Ameerpet while joining it with Jubilee Hills and Hitech City, with one interchange.

 

The connectivity factor is seen impacting the decision-making process of first homebuyers as well as investors, who are seeking rental returns on their investment.

 

Miyapur is now an urban hub with multifaceted amenities: Being in proximity to other residential areas such as Kukkatpally, Chanda Nagar and Hafeezpet, Miyapur is being developed into a high-rise dominated skyline with large corporate house offices and executive residences. Some of the major IT, pharmaceutical, apparel and industrial units have their headquarters here. A major improvement in the infrastructure can be attributed to the Metro connectivity which linked the area to other important hubs of the city in the south and the west. This made Miyapur a more preferred location for setting up offices. 

 

Property prices are moving upwards: According to PropTiger.com data, property prices in Miyapur have grown from Rs 3,396 per sqft in October 2016 to Rs 5,241 per sqft in September 2019, a 35 per cent rise in 36 months. While a number of new projects have come up in the area in the mid-range segment, a few luxury projects have made this area go up in the preference list of well-paid executives, looking for housing options close to their home. This is another reason why the property prices have gone up sharply in the last few months.

 

At present, the average price of 1BHK in this area is Rs 50 lakh while it is Rs 59 lakh for 2BHK units. For a 3BHK and a 4BHK, prices stand at Rs 88.29 lakh and Rs 1.54 crore, respectively.

 

Miyapur lies in close proximity to some of the best schools and hospitals in Hyderabad. This is another reason which makes this as one of the preferred residential locations in the city. Also, with improving connectivity, the area is  being seen as a rental hub for the working population employed in the information technology sector.

 

For renting purposes, 1BHK units are available here for a starting monthly rent of Rs 9,000 per month while a 2BHK is offered for Rs 11,000 a month. For a 3BHK, the average monthly rent is Rs 15,000.