Hyderabad metro pushes demand in Nagole
Hyderabad- The upcoming Hyderabad metro bounds to have a great impact on the real estate market of Hyderabad. In lime light is Nagole, which is one of the fastest growing suburbs in Hyderabad.
Nagole is strategically located between Uppal and MP nagar. These two localities are the commercial hubs which witness prominent real estate developments. Hyderabad metro which is planned in three phases starts from Nagole.
The first phase which connects Nagole to Miyapur is expected to be in operation by 2014. The second phase runs till Hi-tech city and the last phase connects to Mehdipatnam. Metro saves around one hour of riders to reach these phases.
The upcoming metro has shown increase in the price of properties in Hyderabad with more demand in the areas coming in metro route. Such is the case with Nagole where the residential demand has increased. It is seen that lot of working people living in L B Nagar and Dilsukhnagar and nearby residential localities are migrating to Nagole. This shifting will help them to get direct metro connectivity and will witness growth in both rented and sale residential units.
In last one year, Nagole has reported price appreciation of nearly 25-50 per cent in the capital values of multi-storey apartments. Currently, the prices for multi-storey units vary between Rs 3000-6000 per sq ft. This value also depends upon the builder and facilities of the residential project. While the the prices of residential plots ranges between Rs 18,000-20,000 per sq yd.
Realtors feel that it is the right to take advantage. If an individual invests in a plot, he can surely expect appreciation of almost 100 percent. Thus the upcoming metro plays a very important role for Nagole’s development.
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