Prashant Thakur, Head – Research, ANAROCK Property Consultants
Gachibowli in Hyderabad is a market comprising of a 15 km stretch from Nallagandla-Tellapur along the Financial District, Nanakramguda, Kokapet, Narsingi, Raidurg up to Manikonda.
Recognized as one of the popular IT-ITeS and BFSI hubs of Hyderabad, Gachibowli has emerged as a sought-after destination for commercial office spaces as well as residential developments.
Gachibowli falls in the western periphery of Hyderabad and was once a far-flung region with minimal development and almost negligible residential activity.
However, it has witnessed a tremendous transformation in terms of commercial and residential real estate activity driven primarily by the many major IT-ITeS companies now operating there.
Only 6 km from HITEC City, Gachibowli has ICICI, CMC, Franklin Templeton, UBS, Cognizant, IBM, Microsoft, Infosys and many other large firms driving multi-faceted real estate demand. As a result, it has emerged as a top employment destination in Hyderabad and attracts working professionals from various parts of India.
These commercial office developments have attracted residential developers to come up with projects in the nearby micro-markets, and now the region is booming with massive real estate activity.