Kukatpally attract City Techies
Kukatpally is a major residential and commercial suburb in Hyderabad. Low rents attracts city techies to Kukatpally. The rent difference is largely rooted in the excess supply of new constructions in these areas and poor demand among buyers. Newly-constructed apartments in Kukatpally, and even Towli Chowki for that matter, are being let out at rock bottom prices triggering an exodus of techies from the IT hub to these areas.
Even city suburbs such as Chandanagar and Hafeezpet are now on their radar and techies reason they are saving as much as Rs 3,000 to Rs 5,000 on rent. In Kukatpally, for instance, the going rate for a two-bedroom apartment is between Rs 8,000 and Rs 10,000 as against Rs 12,000 to Rs 15,000 in Madhapur. The same type of houses are available for as less as Rs 6,500 in Toli Chowki and Chandanagar.
“In fact, one-bedroom houses are now being rented out for as less as Rs 5,000 here. The same accommodation in Madhapur would cost at least Rs 7,000,” said realtor Venkateshwar Rao adding, “The area is well developed. There are malls, supermarkets and branded showrooms to cater to the IT community. That is another factor adding to Kukatpally’s popularity.”
What is working for Chandanagar and Hafeezpet again is their proximity to Gachibowli and the development activities being carried out in some pockets of these areas. “The areas are also safe which is an important factor for those living alone,” said Khaja Asif Ahmed, a builder working in Toli Chowki.
There are plenty of buses, cabs and sharing autos plying on the route. “With a good number of IT employees now living there the cab services from that area have improved and it is cheaper as well. Therefore, commuting is hardly an issue,” said an executive working with the Bank of America.
While moving to Kukatpally could mean an extra half an hour of travel for techies working in the Hi-Tec City-Madhapur belt, they say that it is worth the trouble considering that they would then save a significant amount on rent.
Source: TOI
Chandanagar, Hafeezpet, Hyderabad, Kukatpally Hyderabad, Low rents attracts city techies, Madhapur Hyderabad, Real estate in India, rental income, Towli Chowki
