Chandanagar turns into a residential hub

Chandanagar has emerged as a major residential hub of business executives, IT professionals and employees of various organisations. Most of them are fed up with the hustle and bustle of city life and prefer to settle down in Chandanagar, which is relatively quiet. At the same time it also has connectivity to Hitec city, Gachhibowli, Hyderabad Central University, Patancheru, IDA Bollaram and Zaheerabad.

The MMTS railway station has become an added advantage for Chandanagar, which comes under the jurisdiction of the Greater Hyderabad Municipal Corporation-Serlingampally circle. With demand for flats and individual houses going up, construction activity has picked up in the area. For those who work in various industries located in Ramachandrapuram and Zaheerabad, Chandanagar is the right place to have their dream homes.

"Though the cost of construction material is skyrocketing, per square feet cost is still between Rs 2,400 and Rs 2,800 here," says Mrs M. Vijaya Laxmi, managing partner of Prem Constructions. "Even young software engineers whose monthly income is around Rs 40,000 can afford to own houses here." Some builders feel that high rents in the area have also interested property buyers. "The monthly rent for a two-bedroom flat is between Rs 8,000 to Rs 12,000," says Mr Chinna Raghava Rao, managing director of Vijaya Raghava Constructions. "And the demand is growing with the establishment of several companies in nearby localities."

Those who give out the newly purchased flats on rent will also be able to pay back their bank loans quickly. "We have recently purchased a house in Chandanagar after carefully analysing the advantages," says Ms P.K. Sai Rekha, an executive of the National Institute of Smart Government. "I'm happy with the social infrastructure. Moreover, there is no water scarcity here." Mr M. Muralidhar, who is employed with a private organisation in Khairatabad, says that he is able to travel easily because of the MMTS connectivity from Chandanagar. "It helps me avoid traffic congestion and sound pollution and I can also unwind after reaching home in the evenings," says Mr Muralidhar.