April 28, 2021
Valuation creation of ₹1,000 crore expected
Real estate consultant JLL India has announced the successful closure of a deal with Hyderabad-based Developer, IRA Realty Tech, for a 53 acre-land parcel at Shamshabad in Hyderabad.
JLL engineered a combination of sale as well as joint development agreement with a few HNIs (family owned property) for this prime land parcel.
“In the period between 2006-2008, Shamshabad real estate boom was led by speculators largely and not by end-customer and hence the real estate growth could not last long but since 2018 onwards Shamshabad has seen a rise in end customers demand and developers’ interest due to its proximity and direct access to commercial hubs. In the past two years, Shamshabad residential projects as well as plot development projects have seen a significant uptake thereby attracting developers to hold a large chunk of land in this micro market,” said Sandip Patnaik, MD & Head, Telangana and Andhra Pradesh, JLL