Many independent houses in Jubilee Hills have been turned into commercial establishments and more are joining the trend. In the residential areas, excluding Roads No. 1, 10, 36, 45 and 92 marked as commercial, there are around 350 commercial establishments.
Most of them are pubs, bars, coffee houses and clothing stores, which are expensive compared to those that cater to middle income groups. Some establishments boast of a clothing store and an eatery in the same premises. Many independent houses in Jubilee Hills are now restaurants serving Japanese dishes in addition to houses that cater to Indian and Italian delicacies.
Residents said that the reason for turning their houses into commercial establishments was that their children stay in other places, while some complained about congestion and traffic menace. Running commercial outlets from the palatial houses translate into a win-win situation for both the property owners and the tenants. The commercial establishments pay comparatively more rent as against those going in for house-turned-commercial space, including taxes and electricity bills.
“Residential property seekers prefer to pay an EMI of `2 lakh instead of paying it as rent, but for the commercial establishments the rental charges are viable,” said a property owner. Meanwhile, some families after leasing out their property have moved to areas around Gandipet or to Jalpally. “I have worked hard my entire life.
Now I don’t want to live in congested areas and .