Shankarpally, a village and Panchayat in the Rangareddy
district of Andhra Pradesh is situated 35 kilometres from Hyderabad and is also
5 kms away from the IIT Hyderabad campus. This has contributed to the area
becoming an increasingly popular real estate area with many people buying flats
in Shankarpally. It is actually a suburban area of Hyderabad and is renowned
for its beauty and climate.
A developing town, people are investing in buying plots of
lands and having their own independent homes in this town. Various sites are
already in their infantile stages and many are on-going projects with many
people desiring to have a property in this area. With many business centres,
office spaces and IT companies located in Hyderabad and nearby Shankarpally,
there has been a sudden increase in real estate buying in the city. Apartments
in Shankarpally have increasingly become popular amongst real estate buyers.
Shankarpallyland rates are the main reason to increase the demand in investing.
The development of the IT industry has increased the demand for both
residential as well as commercial properties. As the number of IT firms setting
up base in the city is rising, the demand for land has also gone up in the last
two-three years. Subsequently, the real estate land prices have also been very
high, since demand has clearly surpassed supply. Numerous NRI investors are
buying land banks here for investment purpose. Thus, the highlight of the
property investors and buyers will shift to the city's suburban areas where
housing is still affordable.
