HYDERABAD: From being a village on the outskirts of Hyderabad, known for its grape orchards and farm houses, Kompally has come a long way. It is now being included in the list of favourable destinations for residential villa developments in Hyderabad.
Greenery in the vicinity and alternative connectivity provided by phase- II of the Outer Ring Road (ORR) connecting it to Gachibowli and the International Airport have aided this perception shift. Kompally is also attracting interest because of developments such as resorts and entertainment zones.
Kompally is also a growing hub for warehouse and cargo oriented businesses due to its connectivity to major highways going out of the city, making it ideal for logistics industries. As a strategic location, the area accommodates several warehouses and godowns.
Availability of cheaper and large tracts of contiguous land has given way to proliferation of several education institutions such as schools, engineering colleges and medical institutes as well as management institutions over the last decade.
Residential activity had grown multifold since 2009 but had slowed down gradually until 2012. Progress of existing projects has gained momentum after Phase-II of Nehru Outer Ring Road (ORR) became operational in January 2013. For a long time, it was known for villa developments catering to both high and mid-end buyers and investors. However, over the last three to four years, it has witnessed growth of residential apartments targeting affordable housing. Several plotted developments have also been launched in the last 12 months.
High-end residential projects in Kompally are in the price band of Rs 3,000-4,000 per sq. ft., making them 20 to 30 per cent cheaper compared to the western quadrant of the city.
Retail activity in the locality is limited to outlets that cater to the needs of the residential catchment within the vicinity. To access organised or multi-branded retail outlets, people need to travel to other parts of the city. However, the upcoming mall project will improve the quality of retail activity in this micro market.
Going forward, the short term outlook may be subdued but the area has got potential to witness growth of residential projects in the five to ten year horizon. With land parcels available at attractive price points compared to dense residential hubs in the city, Kompally remains favourable for investors with a long term outlook.