Sahiti Group, a Hyderabad-based Developer, sees a hike in demand in residential space. It is launching a series of projects across Kompally, Ameenpur, Gachibowli, and Bachupally, and a commercial project in Nanakramguda. The Sahiti group has sold over 250 units post the second lockdown, with a sale value of over Rs 170 crore.
The company has built and delivered two projects in Jubilee Hills in the office space segment, one project each in Kondapur and Gachibowli (office plus retail), and is executing another project in Kompally. As per the CEO & co-founder of Sahiti Group, Dr. Boodati Lakshmi Narayana, they have executed 20 residential projects till now. In the last three months, they have made good residential sales. Since commercial activity has been slow, they are thinking of converting some commercial projects into residential ones. They are also planning to get into Bengaluru and Mumbai soon, going beyond Hyderabad and Vijayawada.
Narayana also added that they are catering primarily to buyers who are seeking properties in the range of Rs 50 lakhs-Rs one crore. They are also offering some projects between Rs 1 cr and 1.5 cr and villa projects above Rs 2.5 cr price bracket. Last year, they declared a turnover of Rs 680 crore, and this year they are expecting a 10-15% jump.
The company finds mixed-use development models to be promising. Projects at Ameenpur (4,000 units), Bachupally (1,400 units), and Kompally (1,000 units) are all large mixed-use development projects, which will include residential, hospitality, retail, co-working space, and other facilities. The company aims for green building certification for Kompally with a focus on water & energy efficiency and ventilation.
The company has worked on several residential and commercial projects totaling over 54 million sqft in the real estate sector, including construction projects.
In the future, Sahiti sees opportunities in co-working and co-living. For example, in Madhapur, the Sahiti group has created serviced apartments, and co-living projects are coming up in Nanakramguda and Jubilee Hills.