CBRE concludes 25-acre land deal in Western Hyderabad

CBRE’s Capital Markets & Land division announced the largest land deal of 2020 in Hyderabad with one of the top-tier developers buying 25 acres of land in Narsingi, Western Hyderabad.

The deal, said a CBRE press release, includes 18 acres of direct purchase and 7 acres of joint development together proposed for development of a high-end residential township.

This deal assumes significance as the robust real estate demand and investor confidence returned to Hyderabad real estate market post the pandemic, the release said further.

Having sought the services of CBRE’s Capital Markets & Land division to close the land deal, the developer, Rajapushpa Properties, holds a large portfolio of residential and commercial office projects in Hyderabad and aims to dedicate a large part of this proposed high-end residential project to greenery and landscape through state-of-the-art planning, world-class amenities, and huge infrastructure.

Scheduled to be launched in the first quarter of 2021, the project intends to capture the accelerated demand in India’s top-performing real estate market that will give an economic fillip to the sector’s revival, added the release.

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Anshuman Magazine, Chairman & CEO – India, South East Asia, Middle East & Africa, CBRE, said, “We at CBRE are optimistic that the RE market is going to bounce back with immense resilience that it has shown in the last few months.”

Gaurav Kumar, MD & Co-Head, Capital Markets, India, CBRE, said, “The Hyderabad real estate market is making great progress and the outlook looks promising.”

Sreenivas Reddy, Executive Director of Rajapushpa Group, said, “The group has delivered some of the finest residential gated communities in Hyderabad and this project will come up as one of the landmark residential projects in the city.”