The ORR connect and social infrastructure make the area a strong and viable long term investment.
Khaja Guda on Outer Ring Road enjoys special preference by both developers and buyers. The reason is not just its strategic location but also guaranteed ROI on properties housed in this locality. Its price history since the last 6 months has been impressive and has registered an increase by 1.7 percent as per Magicbricks research.
Khaja Guda shares its border with Nehru Outer Ring Road. Its popularity amongst consumers can be because of its nearness to the IT hubs of Financial District and Hitec City, both located within 5 to 7 km radius.
Mehboob Khan, marketing manager, Ace Constructions talked about the locality. He said, “Not only does the locality have close proximity to the IT/ITeS hubs but another positive aspect could be the new developments coming along in the locality. Government efforts to improve its connectivity to Outer Ring Road has further captured the attention of buyers and developers.”
Increasing property values
Khaja Guda witnessed a price rise of 1.7 percent in the Apr-Jun 2016 quarter. In the Apr-Jun 2015 quarter the average price of apartments was Rs 4,361 per sq ft which increased to Rs 4,636 per sq ft in the same quarter of 2016. The graph depicts that in the last two quarters, the average property values have increased.
Connected and developed
Khaja Guda being one of the localities along the ORR, is well-connected to the Financial District. Its growth potential is immense as prime areas such as Manikonda and Hitec City are also linked through the ORR.
Khan adds, “Some major international schools are within the vicinity. The airport is only a couple of minutes drive away.” The IT hub of Hitec City has garnered attention of many IT professionals who would like to stay close to their work spaces. ORR stretch in Khaja Guda being the closest, within 3-km distance, tops buyer’s preference charts.
Nehru Outer Ring Road is connected with the Gachibowli Flyover and Old Mumbai Highway that connects Khaja Guda with Gachibowli, Nanakram Guda and many other significant parts of the city. Telangana State Road Transport Corporation offers public mode of transport.
Investing in Khaja Guda
If you are a first time buyer, Khaja Guda will not disappoint you. The locality offers both under-construction and ready-to-move-in properties. Popular housing formats are 2, 3 and 4BHK units.
Under construction properties can be priced from Rs 30 lakh to Rs 2 crore and above. Ready-to-move-in units are priced up to Rs 3 crore depending upon its size and amenities.
In terms of amenities, residential projects offer facilities keeping in mind the needs and requirements of professionals, families, kids and elderly citizens. New constructions offer modern amenities such as parking lot, cafeteria, drinking water, round-the-clock security, bench seating arrangements, club house, water storage, elderly parks, among others.
However, it is advised to check the amenities yourself as every project differs from another. Also, invest in amenities that you will use. Buyers in the past have complained that they pay a hefty annual deposit for the maintenance of facilities that they might use once in a year only.
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Source: Pushpa Rawat, Times Property, Magicbricks Bureau/Hyderabad