HYDERABAD: Move over multi-crore apartments and plush villas. Hyderabadis are now driving away from the bustling city centre to own homes on agricultural lands dotting the capital’s periphery.
Hottest locations are Shankarpally, Mominpet and Vikarabad – each about 60 to 90 minutes’ drive from Banjara Hills.
Complete with organic gardens and ready-to-move-in cottages in some cases, these pocket-friendly farm plots – priced anywhere between Rs 3,500 and Rs 4,500 per square yard (on an average) — are witnessing a steady rise in demand, say, developers, especially post the pandemic due to growing desire among people to shift out of crowded communities
“Having lived in an apartment in Himayathnagar for very long, we wanted to own a piece of farm plot that would allow us to grow our own food and be close to nature. While we have been thinking 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 at Shankarpally
It is also a great investment, said Tollywood actor Teja Sajja who has bought two acres at two different sites despite a sprawling home in Manikonda. “Appreciation of property prices within the city isn’t as high as it is in the outskirts. Soon after I bought the first acre, I found a buyer who was willing to pay double the price. Also, such plots are usually free of any legal issues (in terms of title or boundaries),” said Teja
Not surprising then, multiple real estate players are now launching farm plot projects. Among them is T Nishanth Rao, partner, MySpace Realty, who is on to his second project – Urban Valley – spread over 70 acres.
Farms a sought-after investment option
His clientele is varied: From salaried employees and entrepreneurs to bureaucrats and NRIs. “We are marketing it as a work-from-farm (or valley) concept, which is particularly relevant in today’s times when most people are working out of their drawing rooms. The USPs of these plots: the greenery, security, and proximity to the city,” Rao said.
Also turning to farm plots is Ashwin Rao of Manbhum Constructions who has already been inundated with requests from prospective buyers. “Owning a farm plot with organic plantation managed by professional developers has become a sought after investment option. And the pandemic has only further pushed investors into looking at healthy eating along with stress-free living,” he said.
Agreed Ch Venkat Rao who owns sizable farmland in Mominpet and is now scouting for more. An exhibitor in the film industry, he said the investment serves two purposes for him: A peaceful retirement home and means of reconnecting with his roots. “I have a keen interest in farming and also come from an agricultural background. I want to do something of my own on my land,” he said.
It is to help buyers realize this dream that Kavitha and Ravi Mantha of Sage Organics are joining hands with city developers in this business. Their job is to grow and manage farm gardens. “Apart from a mixed fruit orchard, we will also develop vegetable gardens for those buying these plots. It will be maintained by us so that buyers do not need to bother about its upkeep. We are basically taking away the pain of farming while allowing people to enjoy the pleasure of their own food,” said Ravi.
