Ashoka Builders bought Hyderabad land for ₹235 crore

“We aim to build a mixed-use development comprising premium residential development and Grade A commercial space by June 2025. We plan to invest further 250 crores to grow this mixed-use community,” said Ajitesh Korupolu, CEO, ASBL. “… From the company’s point of view, it diversifies our presence on all sides. Hyderabad, Secondly, this will be our first venture into commercial real estate. And third, the great connectivity of Kukatpally due to the recently inaugurated flyover, metro rail and all other modes of transport makes this land an attractive investment opportunity.”

JLL was the transaction partner for the transaction by the seller.

Sandeep Patnaik, MD, Telangana and Andhra Pradesh, JLL, said, “New buyer confidence has been instrumental in supporting the recovery in the Hyderabad real estate market in Q3 2021, which saw a significant increase in sales and launches compared to the same period last year. A healthy amount has been registered. ,

The top seven cities witnessed a sequential growth of 21% in new project launches with 32,863 units during the July-September period this year. Hyderabad saw the highest number of new launches, accounting for 28% of the total new launches during the third quarter of 2021.

Hyderabad is one of the more affordable property markets among the top cities, though it is one of the few cities that has seen an appreciation in home prices this year.