4 important factors to consider on LOCATION before buying your 3 BHK flat in Hyderabad!

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While evaluating the precise location of your 2 or 3 BHK homes in Hyderabad, sometimes we realize that there is a cost differential in ‘per square foot rate’ within the same locality depending upon the location. This means, that for the same money, you get a smaller flat in a ‘supposedly, good location’. And you get a much bigger flat, in a ‘supposedly, not-so-great location’.

Let’s delve into what makes sense for a home buyer wanting to buy an apartment in Hyderabad.

Marketers often speak of the 3 things that matter in a good residential apartment: “Location, Location, and Location.”

Is this really true, or shall we look at the so-called ‘great or preferred location’ from other angles too?

While considering location, we may look at i) Proximity to the main road of the locality, ii) Access road leading to the location, iii) Pluses and minuses of the adjoining neighbourhood of any residential project, iv) Pollution and green-cover, v) Proximity to social infrastructure

What’s a good location?

A good location is often defined as the one closest to the main markets or main road.

These so-called ‘best locations’ lose out on the green cover, are over-crowded and are NOT the safest bet on health-front in the long run.

Plus, they are most certainly expensive!!

Then, why NOT revisit and rethink buying a bigger more spacious apartment at a cheaper cost (per square feet wise)?

Understanding the 4 scenarios based on two factors- ‘location cost’ vs. ‘how preferred it is’ for 3 BHK flat in Hyderabad!

Let us understand this with an example- Suppose you have a fixed budget of Rs 85 Lakh, in any locality in Hyderabad, which apartment of the four scenarios given below will you choose?

Let us understand the four scenarios depicted above…

Here, we have taken ‘two elements’ to build the 4 scenarios:

A. Location Cost, B. Type of location

By ‘Location cost’ we are referring to ‘how expensive or cheap’ a certain project is in terms of per sft cost-based purely on location.

By ‘Type of location’, we are referring to ‘how much a place is preferred’ or referred to as ‘great location’ by builders and people in general

Four scenarios emerge from this:

Scenario I- VERY HIGH location cost

• We assume that the price of apartment in this project is Rs 6000 per sft
• With a fixed budget of Rs 85 lacs, you get 1416 sft of area in your 3 BHK
• Ask yourself-
  • You get the location, but is the 3 BHK spacious enough?
  • Will 1416 sft take care of all your family needs?
  • Is location so important that you are willing to live in a smaller 3 BHK?

Scenario 2- High location cost

• We assume that the price of apartment in this project is Rs 5500 per sft
• With a fixed budget of Rs 85 lacs, you get 1545 sft of area in your 3 BHK
• This location is not as prime (supposedly), as the first one
• The location may be up to 2 Kms inside the main road (safe assumption)
• Ask yourself-
  • You get reasonably close to the location, and you get approximately 130 sft of additional space. Is this 3 BHK spacious enough?
  • Will 1545 sft take care of all your family needs on space?
  • Is location so important that you are willing to live in a relatively small 3 BHK?

Scenario 3- Right cost location- a balanced, value-for-money option

• We assume that the price of apartment in this project is Rs 5000 per sft
• With a fixed budget of Rs 85 lacs, you get a comfortable 1700 sft of area in your 3 BHK
• This location is not as prime (supposedly), as the first two options, but is reasonably spacious
• The location may be 2-3 Kms inside the main road (safe assumption)
• Ask yourself-
  • You are not too far away from main markets, and you get a pretty spacious apartment. Does it work well for you?
  • Will 1700 sft take care of all your family needs on space?
  • Are you willing to compromise a bit, and travel an additional 1 Km to come home to a much bigger 3 BHK?

Scenario 4- Lowest cost location- an optimum, highest value-for-money option !

• We assume that the price of apartment in this project is Rs 4200 per sft
• With a fixed budget of Rs 85 lacs, you get a super-comfortable 2023 sft of area in your 3 BHK
• This location is not as prime (supposedly), as the first three options, and is most spacious
• The location may be 3-4 Kms inside the main road (safe assumption)
• Ask yourself-
  • You are not still too far away from main markets, and you get an extremely spacious apartment. Eventually, the city will grow, and this location will remain low-density for a long time to come. Does that suit you?
  • Will 2023 sft take care of all your family needs on space?
  • Are you willing to compromise on a so-called ‘great location’, and get a much more pollution-free, super-spacious apartment for your Rs 85 lakh?

The answer to these questions lies with you. Your preferences are yours, and no one can decide for you!

Recommendation for 3 BHK flat in Hyderbad –

A more sensible option is to go for a bigger, more spacious option as indicated in scenarios 3 & 4. You end up getting more peaceful environments, more greenery, clean air, and less pollution!

Ponder over this quote by Robert Frost, “Two roads diverged in a wood, and I – I took the one less travelled by, and that has made all the difference.”

–Robert Frost

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To know more about “5 considerations for identifying a ‘good location’ in Hyderabad for a new home buyer” Click here!