Living Large at Hyderabad

Every city large or small has a social hierarchy, towns as diverse as Asansol in West Bengal, Guna in Madhya Pradesh and Gohana in Haryana all have one thing in common. They all have a small segment of people who are the cities crème de la crème, the Tata’s, Birla’s and Ambani’s of their city. Often one of the strongest indications of what makes someone fall in this elite crowd is simply the location of their residence.

Hyderabad is certainly no such small town, you may not have heard of Asansol, but you’ve certainly heard of Hyderabad. The crème de le crème of Hyderabadi society would be the crème de la crème of any society.

So where do these demi gods masquerading as mere mortals live in Hyderabad? One such place is called Jubilee Hills.

Apartments in Hyderabad located at Jubilee Hills average close to 5000 rupees per square foot; they have however fallen from a peak rate close to 6000 rupees per square foot 2 years ago. Although not very expensive compared to prices in much of South Mumbai, Jubilee Hills does have a property or two where the cost per square foot exceeds 17000 rupees. The presence of many good schools and hospitals makes Jubilee Hills the ideal place for the crème de la crème of any city to want to own property there.

Many luxury apartments in Hyderabad may be found at Jubilee Hills, without exception priced well above 1 crore rupees. 

A 4 BHK luxury flat here could cost you upwards of 5 crores and a developer building 5 BHK apartments in Jubilee Hills is asking for close to 7 crores. If you are keen to own apartments in Hyderabad, and you’ve chosen Jubilee Hills as the address then keep in mind, even a 3-bedroom apartment here could cost 3 crores or more.

A nearby location known as Film Nagar is as glamorous as it sounds, and what is it famous for? Well as the name implies Hyderabad’s Film City is to Telegu films what Mumbai is to Hindi ones. After hearing this you must know already that buying a home here would be expensive, it is. Apartments here are priced at close to 8000 rupees per square foot, a rate that would make many of the well to do in Gurgaon blush.

Film City has its share of upcoming projects in Hyderabad among which is an affluent development where the cost of an apartment can range from 3 crores to close to 7 crores. 

At a glance luxury apartment in Hyderabad can be just as intimidating as some in Juhu or Bandra, and you can be sure the people who live in luxury flats in Hyderabad’s Jubilee Hills and Film City in all likelihood own at least one or two in Juhu and Bandra as well and even vice versa.

This may hint at growing income inequality in our country; however, this is not a bad thing as pointed out by the Nobel Peace Prize Winning Economist Milton Friedman who affirmed that a rising tide lifts all boats. You would be hard pressed to not agree after seeing the great economic change in our country over the last 25 years, a change which has had a largely positive and benign effect on nearly all strata of society. 

Property in Ahmedabad

Even though Ahmedabad is not an IT hub as Bangalore, Hyderabad or even Chennai are, it still has what all these cities don’t, generations of business minded families deft in business and trade. Youngsters in Gujarat start to learn business when still in their teens. By the time these young people start college they know the ins and outs of their family business nearly as well as their parents or uncles.  

Living in Ahmedabad is not as expensive as say in Mumbai or NCR, and although the city does have pockets of luxury housing, the city also has more affordable housing in neighborhoods like Gota and Ranip.

If the buyer is keen to own property in Ahmedabad, Gota offers apartments in Ahmedabad for less than 40 Lakhs. One such development by Godrej, one of the top builders in Ahmedabad, offers a little over 1000 square feet of carpet area.  These 2 BHK flats constructed by a reputable and nationally recognized builder offer great value for money as the project has already appreciated by nearly 13% over the past 3 years.

Among upcoming projects in Ahmedabad, yet again at Gota is by a developer known as Savvy. It offers 1 BHK studio apartments price close to 15 Lakhs, the yet to be launched project is expected to be completed by 2019.

Other low budget flats include the opportunity to own real estate in Ahmedabad for under 36 lakhs. An upcoming development at Gota, under construction by Unique offers 2 BHK flats for with a carpet area of a little less than 1200 feet. This project by Unique provides the option to pay only 20% upfront with the rest to be paid upon possession.

As evident by the examples above, Gota in Ahmedabad offers a wide array of affordable flats in Ahmedabad. There are plenty of other locations in Ahmedabad which give one the option to own property in Ahmedabad at affordable prices.

Vatva and Koteshwar are some other localities which offer affordable housing in Ahmedabad. One such developer Om Shanti Developers offers the buyer the opportunity to own a 2 BHK low budget flat for less than 10 Lakhs. 

If one is not keen to own apartments in Ahmedabad and has the budget, then purchasing luxury villas in Ahmedabad may be suitable. Luxury villas in Ahmedabad at Satellite, one of the most upscale localities in the city may cost you over 2 crores. As Satellite is one of the most desired locations in Ahmedabad the size of the villa is a modest 350 square yards.

As one can assess from the statements above, property in Ahmedabad caters to virtually all segments of the population who can afford to buy their own home. From budget apartments which cost less than 15 lakhs to luxury villas in the center of town priced over 2 crores. 

Depending on your taste and of course your budget you are free to choose where you wish to buy a home in the city. As the largest city in the prosperous state of Gujarat almost any property purchased in the city makes for a good investment.