In the country's most significant land deal in 2020, Hyderabad-based Rajapushpa Properties spent Rs 800 crore on buying 25 acres with a tag alongside a joint growth settlement within the capital of Telangana. A high-rise residential mission may be built using the land located on the Outer Ring Road in Hyderabad.

With direct purchase for Rs 550 crore, the builder has acquired 18 acres, and the remaining economic interest under joint development will be another Rs 250 crore. The project can be launched in subsequent months and can consist of 2BHK and 3BHK units ranging from 1,370 to 2,680 sq.ft.

Real Estate Firms Land Deals

Rajapushpa Properties and CBRE, the real estate consulting firm that signed the contract, denied touching on the transaction. The deal is critical because most funds and builders currently prefer the joint growth mannequin to collect belongings slightly more than investing in property. Care-worn builders are also gradually establishing joint ventures, monetising land and expanding contracts for development administration in major cities.

Large funds such as Blackstone and Brookfield have recently bought belongings that produce revenue slightly more than land. Besides this, Godrej Properties and Prestige Group companies have been aggressively pursuing land acquisitions or entering into joint growth offers. In the market process in Hyderabad, Rajapushpa may also try to extend its footprint.

In the IT corridor of Kokapet, the company has over 30 acres of land bank and will develop office space as demand continues to grow. With common residential value and workplace rental seeing an upward development, the southern residential and business market continues to push the restoration within the real estate sector, with Hyderabad and Bengaluru being the important drivers.

Hyderabad and Bengaluru were the only residential markets that experienced a worthy growth in the third quarter of 2020, 4 percent and three percent respectively, from a year ago.

By: Shailaja K