Every city large or small has a social hierarchy, towns as diverse as Asansol in West Bengal, Guna in Madhya Pradesh and Gohana in Haryana all have one thing in common. They all have a small segment of people who are the cities crème de la crème, the Tata’s, Birla’s and Ambani’s of their city. Often one of the strongest indications of what makes someone fall in this elite crowd is simply the location of their residence.
Hyderabad is certainly no such small town, you may not have heard of Asansol, but you’ve certainly heard of Hyderabad. The crème de le crème of Hyderabadi society would be the crème de la crème of any society.
So where do these demi gods masquerading as mere mortals live in Hyderabad? One such place is called Jubilee Hills.
Apartments in Hyderabad located at Jubilee Hills average close to 5000 rupees per square foot; they have however fallen from a peak rate close to 6000 rupees per square foot 2 years ago. Although not very expensive compared to prices in much of South Mumbai, Jubilee Hills does have a property or two where the cost per square foot exceeds 17000 rupees. The presence of many good schools and hospitals makes Jubilee Hills the ideal place for the crème de la crème of any city to want to own property there.
Many luxury apartments in Hyderabad may be found at Jubilee Hills, without exception priced well above 1 crore rupees.
A 4 BHK luxury flat here could cost you upwards of 5 crores and a developer building 5 BHK apartments in Jubilee Hills is asking for close to 7 crores. If you are keen to own apartments in Hyderabad, and you’ve chosen Jubilee Hills as the address then keep in mind, even a 3-bedroom apartment here could cost 3 crores or more.
A nearby location known as Film Nagar is as glamorous as it sounds, and what is it famous for? Well as the name implies Hyderabad’s Film City is to Telegu films what Mumbai is to Hindi ones. After hearing this you must know already that buying a home here would be expensive, it is. Apartments here are priced at close to 8000 rupees per square foot, a rate that would make many of the well to do in Gurgaon blush.
Film City has its share of upcoming projects in Hyderabad among which is an affluent development where the cost of an apartment can range from 3 crores to close to 7 crores.
At a glance luxury apartment in Hyderabad can be just as intimidating as some in Juhu or Bandra, and you can be sure the people who live in luxury flats in Hyderabad’s Jubilee Hills and Film City in all likelihood own at least one or two in Juhu and Bandra as well and even vice versa.
This may hint at growing income inequality in our country; however, this is not a bad thing as pointed out by the Nobel Peace Prize Winning Economist Milton Friedman who affirmed that a rising tide lifts all boats. You would be hard pressed to not agree after seeing the great economic change in our country over the last 25 years, a change which has had a largely positive and benign effect on nearly all strata of society.