India, Hyderabad, Mumbai, Maharashtra: JLL, the country’s leading real estate consulting firm, has completed the sale of 10 acres of premium land to Hyderabad-based real estate developer Ashoka Builders India Private Limited (ASBL) for INR 235 crore. ASBL has emerged as the deal’s biggest bidder.
The property is located in Kukatpally, a bustling business district in Hyderabad’s Northwestern outskirts. It is also well-known for its lively residential neighbourhood and convenient access to the city’s highlights. The land was held by one of the country’s largest corporations. The seller designated JLL as the exclusive transaction partner for the transaction. “JLL’s great market intelligence and solid relationship resulted in the successful completion of this deal in record time.” “This transaction demonstrates Hyderabad’s favourable market in terms of high demand for both commercial and residential complexes,” Sandip Patnaik, Managing Director, said. “The entire acquisition procedure was meticulously and transparently carried out in accordance with the landowners’ corporate philosophy and value systems,” he stated.
“Restored buyer confidence has been essential in aiding the Hyderabad Real Estate market rebound in Q3 2021, which recorded a solid quantum of sales and launches compared to the same period last year,” he continues. These figures are approaching those from the pre-COVID era.”
“By June 2025, we intend to construct a mixed-use development combining premium residential development and Grade A commercial space.” “We want to invest an additional INR 250 crore to create this mixed-use community, bringing the project’s final valuation to around INR 600 crore,” said Ajitesh Korupolu, CEO of ASBL. “There are three key reasons why we are thrilled about this initiative.” From a business sense, this broadens our presence in Hyderabad. We are already present in the South-West and East of Hyderabad, hence Kukatpally ASBL is expanding into the North-West of the city. Second, this would be our first foray into the commercial real estate market. Third, the excellent connection that Kukatpally has as a result of the recently inaugurated flyovers, metro rail, and all other modes of transportation make this site a valuable investment opportunity,” he noted.
ASBL is a fast expanding new-age real estate firm. ASBL has carved itself a position in the field of construction technology during the previous five years. They are currently completing 5 million square feet of residential built-up space across Hyderabad.
Housing demand resurgence is being driven by affordable synergies and the growing need for homeownership, which is being supported by all-time low mortgage rates, stamp duty waivers in several states, and stagnating prices. Sales volume increased by 65 percent sequentially in Q3 2021, compared to 34 percent sequential growth in Q3 2020. The top seven cities saw a sequential increase of 21% in new launches, with 32,863 units launched in Q3 2021. During the third quarter of 2021, Hyderabad witnessed the most new launches, accounting for 28 percent of total new launches. According to the Home Purchase Affordability Index (JLL HPAI 2021), the city remains an affordable market for residential property.
In the coming year, Hyderabad is anticipated to break the 200-point milestone on the affordability index, closely followed by Pune. The index suggests that an average-earning household in the Hyderabad and Kolkata markets has adequate income to qualify for a home loan on two 1,000 sq. ft. flats (or one 2,000 sq. ft. apartment) at the current market pricing.
JLL (NYSE: JLL) is a global professional services organisation focused on real estate and investment management. JLL defines the future of real estate for a better world by utilising cutting-edge technology to create rewarding opportunities, incredible locations, and long-term real estate solutions for our clients, people, and communities. JLL is a Fortune 500 firm with $16.6 billion in annual revenue in 2020, activities in over 80 countries, and a global workforce of over 95,000 as of September 30, 2021. Jones Lang LaSalle Incorporated’s brand name and registered trademark is JLL. Visit jll.com for more details.
JLL is India’s largest and most prestigious professional services firm dealing in real estate. For the past two decades, the firm has expanded from strength to strength in India. JLL India has a strong presence in 10 major cities (Mumbai, Delhi NCR, Bengaluru, Pune, Chennai, Hyderabad, Kolkata, Ahmedabad, Kochi, and Coimbatore) and over 130 tier-II and III markets, employing about 12,000 people. The Firm offers a wide range of services to investors, developers, local corporations, and global corporations. Leasing, capital markets, research & advising, transaction management, project development, facility management, and property & asset management are a few examples. Commercial, industrial, warehousing and logistics, data centres, residential, retail, hotel, healthcare, senior living, and education are some of the asset groups covered by these services.