Somajiguda Hyderabad, an ideal investment destination
Hyderabad- Somajiguda is one of the major localities of central Hyderabad. It was once a peaceful residential locality which has transformed into a modern business center in the city. Currently, the locality is witnessing hike in residential rental values. Investment in such a property will ensure handsome returns.
Residential development
As per commonfloor data, the locality embraces around 30- 40 residential projects. In past three months, the residential property prices have witnessed a marginal increase of 3-5 percent. The current property prices trange between Rs 4300 per sq ft -5000 per sq ft.
It is in close vicinity of prime areas such as Banjara Hills, Ameerpet and Jubillee Hills. Thus, there is also a healthy demand of residential units.
Some of the latest projects in Somajiguda are Lahari park, Lahari Pearl Heights, KPC Krishnaveni, Legend Tulips etc. The following pie chart tells about the property distribution in Somanjiguda.
Commercial activity
Somajiguda is in close proximity to the city centers such as Begumpet, Punjagutta and Khairtabad. It houses international banking institutions such as the Standard Chartered, Bank of Mauritius, HDFC, Bank of Kuwait etc. Many reputed companies like ADP, 24/7 etc. operate their businesses here. The locality also has well known shopping centers, automobile sales stores, private hospitals, hotels etc.
Rental values
The locality has vitnessed seven percent hike in rental values of multistory apartments in the Jan-Mar 2013 quarter as compared to the last quarter of 2012. The residential rental values in Somajiguda range between Rs 12-15 per sq ft as against Rs 17 per sq ft in Banjara Hills. The commercial rental values of units vary between Rs 100-120 per sq ft per month.
Location advantages
Somajiguda is being preferred by many working professionals due to connectivity advantages. The locality is well linked through the Andhra Pradesh State Road Transport Corporation (APSRTC) buses. The nearest MMTS station is at Necklace Road which is only 2 km away. The upcoming metro station at Ameerpet is just 3-4 km away from the locality. Property prices are expected to rise once it becomes operational.
Experts opine that due to acute shortage of residential and commercial space in the locality and higher demand, the prices are on the rise in this locality.
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