IT workforce drives housing demand in Manikonda
Hyderabad- Manikonda is a suburb in Hyderabad which has gained importance due to boom in IT online casino v čr industry in early 2000s, infrastructural development and proximity and easy accessibility to Hi-Tech City and Gachibowli. The area is also witnessing high influx of builders and new projects.
Location Advantages
The suburb is in close proximity to Hitech city, Gachibowli, Gopanlly, Nanakramguda, Jubliee Hills, Kondapur etc. Nanakramguda, Manikonda and Gopanpally are treated as subsets of Gachibolwi. The area also gives easy acessibility to Shamshabad through the Indira Gandhi Flyover and the Outer Ring Road.
IT activity
The locality has transformed into a commercial hub due to the presence of leading software company headquarters.
Leading MNC’s like L&T Infocity, TCS, Dell, Google, CA, Oracle, Mahindra Satyam, Accenture, Infotech and Cognizant have set up operations in Madhapur and nearby areas. Nanakramguda houses many IT companies like Microsoft, Infosys etc and BPO offices. Nearby IT parks are Raheja IT Park and Acendas IT Park.
Public Transport
The closest Multi-Modal Transport System (MMTS)Train station is at Hitech City and the area is connected by Andhra Pradesh State Road Transport Corporation (APSRTC) buses.
Social Infrastructure
Manikonda is seeing growth in various sector like infrastructure, shopping, entertainment etc. Along with this, one can see many shopping centers, good educational institutions, reputed hospitals, entertainment zones in nearby areas. It houses a large mall named Shaikpet Nala which contains leading brands.
Some nearby reputed educational instituions are Mount Litera Zee School, Scholars and Lotus, Lakshanika international school, DPS, Gautami Talent School etc. Some hospitals around the locality are Aparna Hospital, Sunrise Hospital, Krishnaveni Hospital, Srinivasa Hospital etc.
Real Estate
The spill-over effects of the IT industry have pushed real estate growth in the surrounding areas including Manikonda. Many software professionals prefer buying land or flats in Manikonda.
The less availability of land and high real estate prices in Gachibowli-Madhapur areas have also lead to the development of surrounding areas.
The locality serves the need of different segment of customers primarily by offering apartments. As per commonfloor data, the average price per sqft was at Rs 2554 in Oct- Dec 2012 quarter and then price appreciated to Rs 2625 in the next quarter of Jan-Mar 2013.
Some of the premium developers active in the area are Aparna, Myhome, Ramky, Manjeera and Aditya Constructions, Phoenix, Gowra Hallmark, Ekta Prime, Oorjita Projects, Legend Construction and Rajapushpa.
The area houses more than 100 residential projects. Some of the latest projects include Harivillu Manikonda ,Floatilla Apartment, Jaihind ASR Heights, Lahari Benz etc.
Problems
Due to increased residential activities, there are chances of water scarcity in the locality. In past two years, the ground water levels have drop down significantly.
Another major problem is that many buildings and constructions are going on illegally. Some are without permission from concerned authorities, some without documentation and others violating norms.
Manikonda is preferred by working software professionals. It has a huge potential to grow in this segment. Experts opine that he surrounding areas of Gachibowli and Hitech City will see price appreciation of 30 to 50 percent in coming three to five years.
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