When posh localities offer you affordable options, there’s no looking back. Hyderabad’s Sainikpuri amidst all its richness can be a viable pick.
Sainikpuri, as the name suggests, has a history of being one of the favourite retirement settlement destination for the ‘sainiks’ or the army men. Located to the north-east of Hyderabad, Sainikpuri is referred to by the real estate industry trend watchers as a posh, planned and picture perfect locality.
The capital values at Sainikpuri range from Rs 2300 to Rs 2800 per sq ft. There are plenty of options for those looking out for a 2BHK or a 3BHK unit within a budget of Rs 30 lakh with a starting range of Rs 20 lakh. The sizes would range from 890-1410 sq ft. Most of these are semi furnished accommodations.
Kumaran Sarma, a property consultant from Janapriya Properties says, “3BHKs are popular and a lot of new projects are coming up in this area.” Interestingly, there are limited instances of 3BHK units available for Rs 20 lakh!
Perhaps the grandeur of Sainikpuri that local realtors like Prem Chander Reddy of Mythri Infra Tech point out is reflected in the plush residential houses starting at Rs 52 lakh and ranging up to Rs 1.25 crore as per data with Magicbricks. The sizes would range from 1700 sq ft to 3600 sq ft.
If you are on a look out for spacious villas, Sainikpuri offers you options starting from Rs 58 lakh up to Rs 1.70 crore. The sizes here would range from 1916 to 4000 sq ft.
Residential plots are also a popular pick in the locality. The price range would be anywhere between Rs 22 lakh to Rs 1.35 crore. The sizes would be 200 sq yd to 450 sq yd.
Srinivasulu K, proprietor at SSS Realtors points out, “most home buyers opt for options between Rs 20-40 lakh and although multistorey apartments are not very popular as are plots and independent houses, the demand is nevertheless growing steadily.”
Although Sainikpuri is quite reputed for its well maintained homes and surroundings, the investment scenario differs from what other cities usually witness. Reddy says, “Most of the home buyers here invest for end use. They are not worried about return on investment. The returns if any would not be sizeable either. At most, people rent out their home which garners Rs 15,000 per month on an average.” This means that although the rental market is healthy, the scope of returns is dwindling and home buyers prefer retaining their house.
Gated communities abound in the area and there are numerous places of worship as well.
The Hyderabad railway station is close to 21 kms south west of this locality and the international airport is around 48 km from Sainikpuri. However, the Secunderabad railway station would be closer, at a distance of about 12 km. The social fabric is also up to date with educational institutions, hospitals, banks, libraries, civic utilities and shopping arcades well in place and not far from the locality.
Reddy informs, “Sainikpuri has of late witnessed a robust demand for multi-storey apartments generated by non-locals from Delhi, Mumbai, Rajasthan, Gurgaon. These are mostly professionals working in the nearby IT companies and other industries who want to opt for investment options than paying for a rented accommodation.”
If a plush locality gives you the benefit of affordable homes, it is perhaps a good deal to bank upon.