 "Banjara Hills")
Hyderabad is considered as one of the best cities to live in on the back of massive economic and infrastructural developments. Of its various neighbourhoods, Banjara Hills is considered as an elite and prestigious property destination.
Located close to Jubilee Hills, it has dense green cover and is also a prime hub for commercial and residential spaces. The area has very good connectivity through the Inner Ring Road with very adequate public transport, and is also close to the airport.
It is well connected to upscale localities like Masab Tank, Naveen Nagar, Srinagar Colony, Errammanzil Colony and Panjagutta, which has increased its attraction for developers and residents alike. Banjara Hills also has excellent social infrastructure, including the Jalagam Vengal Rao Park and various nearby clubs.
It is considered as a posh area offering an ultimate residential package to prospective home buyers. It is home to premium hotels, fine-dining restaurants and large retail establishments. It is also close to reputed educational institutes and hospitals, including Basavatarakam Indo American Cancer Hospital and Virinchi Hospital. Hotels like Taj Krishna, Taj Deccan and Taj Banjara have restaurants offering global cuisines. Shopping malls like City Centre and Alcazar Plaza are close by.
The area is inter-connected by a good network of roads which have their own business identities. Most of the businesses are concentrated from Road 1 to 3, with some dedicated to each road. At a major intersection is Roxanna Palladium - a premium commercial property located in the middle of the CBD offering excellent connectivity and proximity to high-end hotels.
Residential properties in Banjara Hills include swank housing with a mix of independent furnished homes, villas and luxurious apartments, as well as budget homes. There are currently over 10 projects under construction and 150 projects with ready to-move-in options available.
Property rates in Banjara Hills range from Rs 5,870-11,000/sq.ft., and prices of most properties in the area are increasing by leaps and bounds thanks to its good connectivity to HITEC City and other premium commercial projects like Laxmi Cyber City. The appreciation trends here make it a lucrative investment opportunity. Even more residential supply is coming in via several new projects by Brigade Group, Shantasriram Constructions, Vertex Homes, Dream India Homes and others.
This area with its lush green cover and high-end civic and social amenities is a destination best suited for investors with an appetite for high-end localities who are on the look-out for opportunities to invest in premium residential properties.
The writer is CEO - Operations & International Director, JLL India
