In the gated communities of West Hyderabad, a two-bedroom flat costs between Rs 1 crore and Rs 1.2 crore. A triple bedroom will cost more than Rs 1.5 crore. As a result, the youth are thinking twice before purchasing properties by investing in such a huge amount. Some of them do not believe in the concept of “own house”. Hence, most of them are preferring to live in rented houses. But if one has to purchase a flat, they are prefering to buy one in an old gated communities with better maintenance. Thus, the buyers can own the flat for nearly half the market price of new flats.
If you want to buy a new flat in Gachibowli, it will cost up to Rs 1.5 crore. But, one can buy a 1,100 square feet flat in Mantri Celestia at Wipro Square for Rs 90 lakh. As the project is well-maintained by the residents welfare association, many people are showing interest in buying a flat in it. Similarly, when it comes to Miyapur, one has to invest more than Rs 1 crore to buy a double bedroom flat in new projects like Candeur 40, Vertex Virat, and Sai Vanamali.
But a double bedroom flat is available in SMR Vinay City for Rs 75 lakhs. What makes this community unique is that only 512 flats have been built on 5.5 acres. Moreover, if you buy a two bedroom flat, you get more than 40 yards UDS space. Further, this gated community boasts of a mini cricket ground which is not found even in the projects built by big companies like Aparna Constructions and My Home. With this, children and youngsters enjoy cricket regularly. Hence, many people are showing interest in buying flats in it.
