Pass over multi-core apartments and luxurious villas. Hyderabad is now moving away from the busy city center to own farmland homes on the outskirts of the capital.
The hottest places are Shankarpally, Mominpet, and Vikarabad-around 60 to 90 minutes drive from Banjara Hills.
Complete with organic gardens and ready-to-move cottages in some cases, these pocket-friendly farm plots-priced anywhere between Rs 3,500 and Rs 4,500 per square yard (on average)-are witnessing a steady increase in demand, say, developers, particularly after the pandemic, due to an increasing desire among people to move out of crowded communities.
"As we've been living in an apartment in Himayathnagar for a very long time, we wanted to own a farm plot that would allow us to develop our food and be close to nature. While we've been talking about investing in such a property for a while, the Covid-19 outbreak sealed the deal for us," said Salon owner Sriveda Bollam, whose family recently bought an acre at Urban Retreat in Shankarpally.
It's also an excellent investment, said Tollywood actor Teja Sajja, who purchased two acres in two separate locations amid a sprawling Manikonda house. "Appreciation of property prices within the city is not as strong as it is in the suburbs. Soon after I purchased the first acre, I found a buyer willing to pay twice the price. Moreover, these plots are typically exempt from any legal problems (in terms of title or boundaries)," Teja said.
Not surprisingly, multiple real estate players are now launching farm plot projects. Among them is T Nishanth Rao, the investor, MySpace Realty, who is part of his second project, Urban Valley, spread over 70 acres.
Its clientele is varied: from employees and entrepreneurs to bureaucrats and NRIs. "We are promoting it as a work-from-farm (or valley) idea that is especially applicable today because most people work in their living rooms. The USPs of these plots: greenery, protection, and proximity to the city, "said Rao.
Also turning to farm plots is Ashwin Rao of Manbhum Constructions, which has already been flooded with requests from prospective buyers' Owning a farm with organic plantation managed by qualified developers has become a sought-after investment choice. And the pandemic has only driven consumers deeper into looking at balanced eating along with stress-free living, "he said.
Venkat Rao owns big farmland in Mominpet and is now looking for more. An exhibitor in the film industry, he said that the investment serves two purposes: a pleasant retirement home and a way to reconnect with its roots. "I have a great deal of interest in farming, and I also come from an agricultural family. I want to do something of my own on my land," he said.
It is just a temporary occurrence, and as soon as the corona situation improves, nobody will bother traveling 100 km to the farmhouses. It appears more like a paid commercial for these plots in Vikarabad.
It's to help buyers realize this vision that Kavitha and Ravi Mantha of Sage Organics are joining hands with city developers in this market. It's their responsibility to grow and maintain farm gardens.
"In addition to the mixed fruit orchard, we will also grow vegetable gardens for those who buy the plots. It's going to be handled by us so that customers don't have to think about their maintenance. We take away the pain of farming while allowing people to enjoy the enjoyment of their food, "said Ravi.