Project Of The Week: Patel Smondo, Hyderabad

Hyderabad, the city of Nizams, is an upcoming real estate market. The state capital of Telangana, Hyderabad is one of the top contributors to India's gross domestic product. It is home to some leading companies, including Bharat Heavy Electricals Limited (BHEL) , Nuclear Fuel Complex (NFC) , and National Mineral Development Corporation (NMDC) . Also, this city has emerged as the second-favourite destination -- next only to Bengaluru -- for many technology biggies to set up base in.

With more and more people from across the country, and even abroad, making a beeline to the city, the need for both affordable and premium housing has gone up many times over in the past few years.

To capture this rising demand for housing, Patel Realty has come up with its latest offering, Patel Smondo in Gachibowli.

PropGuide takes a look at the project and what it offers the home buyers:

The project

Patel Smondo, spread across four acres, was launched in March 2013, with 372 apartments available for sale. The project, located in Gachibowli, offers apartments in 2-BHK and 3-BHK configurations, with unit sizes ranging from 990 sq ft to 1,435 sq ft.

There are several amenities offered in this project, some of which are:

The locality

Gachibowli in Hyderabad hosts many prominent IT companies like Wipro, Sierra Atlantic and Infosys. The area is around five kilometres away from the HITEC City.

Tourist spots: Durgam Cheruvu, Shilparamam, Hussain Sagar, Ramoji Rao Film City, Golconda Fort

Key thoroughfares: Outer Ring Road,  Nehru Outer Ring Road, Hafeezpet Railway Station, HITEC City Railway Station, Deccan Railway Station, Hafeezpet MMTS Train Station

Education centres: ISB Learning Resource Centre, Kendriya Vidyalaya, Jawaharlal Nehru Institute of Development Banking, Sarojini Naidu School of Arts and Commerce

Health care centres: Manikanta Hospital, Aakruthi Dental Hospital, Dr Amar's Dental Hospital, Continental Hospital

Neighbourhood: Jubilee Hills, Madhapur, Banjara Hill, Kothaguda, Mehdipatnam, Panjagutta, Kukatpally

Infrastructure and future prospects

Hyderabad has undergone extensive commercial and infrastructural development in the past few years. The area has a proposed Metro line that will boost connectivity. Also, there is a 650-meter-long flyover under construction here will connect to the Toli Chowki Junction when constructed. The old Mumbai highway is also being extended from 60 feet to 120 feet, to make travelling to this area more convenient.

The developer

Patel Realty India Ltd (PRIL) is part of the Patel Engineering Group. Founded by Pravin Bhai Patel, the company began developing residential real estate projects in 2007. The developer is known to use environment-friendly building technologies and also follows the policies of Indian Green Building Council. It has around eight projects in its kitty right now; and five of them have been completed.

The price

The project offers 2-BHK and 3-BHK apartments in two distinct areas each. While 2-BHK units have an area of 990 sq ft and 1,120 sq ft, 3-BHK ones have an area of 1,400 sq ft and 1,435 sq ft each. All of these units are priced at Rs 4,900 per sq ft.

PropGuide's verdict

Overall recommendation

Gachibowli is well connected to the rest of the city, owing to its roads and bus stations, apart from the upcoming Metro and road projects. Besides, with its proximity to several IT companies in Hyderabad, and reasonable prices, this project is beneficial for the IT workforce, as well as investors.