Hyderabad Mega Land Deals worth Rs 1,050 Crore In 2021
Hyderabad, which has been witnessing robust growth in real estate across asset classes quarter-on-quarter, has seen two mega land deals for residential development for a total of 78 acres worth Rs 1,050 crore in 2021 so far. The two separate deals over 78 acres of land are meant for large scale residential development projects and have taken place in Narsingi (ORR) and Shamshabad, as per Anarock. In what is touted as Hyderabad’s largest land deal, in February 2021 Rajapushpa Properties bought 25 acre land parcel in Narsingi (western Hyderabad) for Rs 800 crore for a residential project, while Hyderabad-based IRA Realty Tech in April this year bought 53 acres of land in Shamshabad for Rs 250 crore from high net-worth individuals. IRA Realty is gearing up to capitalise on the massive demand for premium plotted development residential spaces in Shamshabad, where land parcels are scarce and come with a premium price tag. The Rs 250-crore transaction is expected to create valuations to the tune of Rs 1,000 crore when the property is fully developed.
Tags : News/Views residential development Land Deals Land Parcels Rajapushpa Properties IRA Realty High Net-Worth Individuals Premium Plotted Development