HYDERABAD: The city’s obsession with
bigger homes
has spurred a new trend – that of
5BHK apartments
. Sized at anywhere between 4,000 and 7,000 square feet (sft), these homes are seen making a debut in the plush pockets of Hyderabad’s
IT corridor
, complete with luxe bells and whistles.
Predictably, the price of these ultra-luxury properties is higher than the average market rates and pegged at Rs 9,000 to Rs 15,000 per sft. Developers venturing into this segment include the Vasavi Group, Sattva Group, Aparna Constructions, Honer Homes, Greenmark Developers and RealPlus Homes among others.
Average cost: Rs 7.2cr
Sattva’s project ‘Lakeridge’ comprising six towers is coming up at Neopolis, Kokapet. One of its towers ‘Fern’ will house 70 5BHK flats – 5,266 sft and 5,477 sft in size – and cost about Rs 12,700 per sft, said a company official.
The average cost – Rs 7.2 crore per home.
“These flats are equipped with centralised air conditioning and heat pump system, centralised gas bank system, home theatre, imported marble flooring and many modern amenities apart common facilities like clubhouse, swimming pool, kids pool, tennis, badminton, multi-purpose court, toddlers play area, amphitheatre, cricket pitch, pet park and jogging track among others,” said Pranay K of Sattva Lakeridge project.
All in core city limits
In the heart of Hi-Tec City, Vasavi Group is readying the ‘Skyla’ project with 685 units including 100 5BHKs. Currently this project is under construction and is likely to be ready by the end of 2025. The 5BHKs are being built in an area of 4,000 sft to 7,200 sft.
“We have already commenced pre-bookings. The cost of each flat is Rs 9,000 per sft and buyers can purchase a 5BHK starting at Rs 4.5 crore. These will be smart homes with Alexa assistance. Car parking area will have EV charging poles and also host many ultra luxury amenities,” said D Amar, who heads the Skyla project.
According to developers, it is mostly businessmen and NRIs with big, joint families who are looking at investing in these large homes. “Joint families in areas like Abids, Koti and Basheerbagh who have been running businesses for years are now looking for big homes which have an area of 5,000 sft to lead a community life. Moreover, NRIs who want to return to India at some point in their life are also looking for super luxury flats in gated communities,” said GV Rao, president of Telangana developers’ association.
TOI spoke to one such buyer whose family comprises 14 members. “Since all of us wanted to stay together, we decided to sell our old property and invest in a 5BHK that caters to the needs of the present and future generations,” said the industrialist from Basheerbagh.
5BHK villas & mansions
Apart from apartments, developers are also coming up with 5BHK villas and mansions. Honer Homes is developing 5BHK villas near IDL Lake Moosapet that flaunt a price tag of Rs 25,000 per sft. A total of 142 units are being built with each of them valued at Rs 18 crore. Same is the case with SMR Holdings that’s come up with 150 5BHK villas near Appa Junction priced at Rs 8 crore individually.
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