Patancheru Real Estate Market Analysis
Patancheru is preparing for an explosive growth in the real estate sector. With many a projects on the road to completion, this place is getting set to give you a peaceful abode away from the buzz of the daily traffic. Patancheru, with its rise in the real estate industry, is slowly shedding its reputation of an outskirt, far-off, uninhabited, industry-oriented location and getting ready to put on a vest of a peaceful residential society. With already a strong foothold in the industrial area, comprising mainly of pharmaceutical, chemical, retail warehousing, and cold storage industries, Patancheru is slowly developing an interest in the residential real estate market.
The main focus is on Villa format with an approximate of 31 villa projects across 4 zones. The real estate market is targeting the people who work at these industries for potential buyers. Patancheru being a major industrial hub in Hyderabad, villa projects are by far the most beneficial format of residential living that is acceptable by the population.
Zone 1: Patancheru Area - Patancheru Site
Zone 2: BHEL Area - Influential Economic Region
Zone 3: Miyapur Area - Rest of Economic Growth Regions
Zone 4: Tellapur Area - Residential Villas Surveyed
The average size of the villas in Patancheru is 1500 Sq.Ft, at an average price of 4500/- per Sq.Ft. The price, however, varies from zone to zone. Among the 31 proposed Villa projects, 79% are completed projects with 89% already occupied, and 21% projects that are currently under construction with completion status at 61%. Among the upcoming villas at Patancheru, we have Praveen Luxuria with 100+ villas and Elemental Village with 237 villas.
The USP of Patancheru Villa projects is that it is in close proximity to the ORR which provides an easy connect to the IT corridor of Hyberabad i.e., Hitec city and Gachibowli, as well as Kukatpally, Bachupally, Bahadurpally, etc. In addition to this, it is in the vicinity of Patancheru Industrial Area.
Future plans to make Patancheru a eco-friendly zone is already in place with the Government funding of 15000 Crore for development of roadways, parks, drainage canals, etc. ‘Patancheru-Bolarum Environment Relief Fund’ and Hospitals with free medical care are recent initiatives aimed to lift the negative light on Patancheru cast mainly by the negligence of the pharmaceutical industries. As of 2019, the State Environment Impact Assessment Authority (SEIAA) has started 5 residential projects for Environmental Clearance from the Patancheru region. With build-up in connectivity infrastructure, the Patancheru region is expected to increase in residential housing and the rate of densification of Patancheru. So we are safe in saying that Patancheru is the next big thing for the real estate market.
A study shows that out of the 31 Villa Projects at Patancheru, 52% are semi-furnished and 12% are fully furnished villas. Statistics show that about 95% of the projects have 24*7 water, security, park, and street lights, 88% of the projects have a jogging track, club house, pool, and power backup. Of the residents occupying these Villas, 86% are IT professionals. About 36% of the residents are 40-60 years of age, and 33% are of 30-40 years. This suggests that these Villas provide a healthy and peaceful environment for the elderly as well as the younger generation.
With the Government taking initiatives to cater to the needs of continuous water supply to the residents, set up parks and roadways that provide inter-city connections making trade across cities easier, the prices are bound to increase. From 2018 Hyderabad Metropolitan Water Supply and Sewerage Board (HMWS &SB) has started to collect water bill from the residents of Patancheru. To alleviate shortage of clean drinking water, Godavari Water Reservoirs at Patancheru and pipelines works are underway to supply to the emerging water demand.
Patancheru is slowly transforming from an industry-oriented locality to an eco-friendly, healthy residential society.