Kukatpally has witnessed one of the single largest outright land deals to have been struck in the country in 2021. Hyderabad-based realtor Ashoka Builders India Pvt Ltd (ASBL) has picked up a 10-acre parcel of prime land in the area for a whopping 235 Crore. The land is owned by Godrej group flagship Godrej & Boyce Manufacturing Co Ltd.
ASBL won the bidding war and plans to use the land for a mixed-use development, including a premium residential development and a Grade A commercial space. The project will be materialized by June 2025 and ASBL will pump in another 250 Crore. After completion, the project is expected to cost around 600 Crore Rupees.
The deal reinforced the belief of the investors in Hyderabad and also marks a landmark development in the North-West of Hyderabad. The city remains a favorable market in terms of strong demand for both commercial and residential developments. The market demand is slowly inching towards those in the pre-Covid era.