+
Ashoka Builders buys 10-acre land for Rs 235 cr in Hyderabad
Real Estate

Ashoka Builders buys 10-acre land for Rs 235 cr in Hyderabad

Ashoka Builders India Limited (ABIL) has bought a 10-acre land for Rs 235 crore at Kukatpally, Hyderabad. Jones Lang LaSalle Inc (JLL) was the transaction partner for the property deal.

ASBL emerged as the highest bidder for the land parcel, owned by one of the largest corporate houses in India.

CEO of ASBL, Ajitesh Korupolu, said that the company plans to build a mixed-use development, a combination of premium residential development and Grade-A commercial space by June 2025. It also plans to invest Rs 250 crore for developing the mixed-use community, with an estimated value of the project after completion to be nearly Rs 600 crore.

Managing Director of JLL, Telangana and Andhra Pradesh, Sandip Patnaik, said that the real estate deal proves Hyderabad's favourable market sector for commercial and residential developments.

Korupolu further said that the company has its presence in the South-West region and East, making ASBL's business expansion in the North-West of Hyderabad. It is the first venture of the company into the commercial sector.

ASBL is executing 5 million sq ft of residential space in Hyderabad.

Image Source

Also read: Adani Realty bids for high rise residential complex in Mumbai

Ashoka Builders India Limited (ABIL) has bought a 10-acre land for Rs 235 crore at Kukatpally, Hyderabad. Jones Lang LaSalle Inc (JLL) was the transaction partner for the property deal. ASBL emerged as the highest bidder for the land parcel, owned by one of the largest corporate houses in India. CEO of ASBL, Ajitesh Korupolu, said that the company plans to build a mixed-use development, a combination of premium residential development and Grade-A commercial space by June 2025. It also plans to invest Rs 250 crore for developing the mixed-use community, with an estimated value of the project after completion to be nearly Rs 600 crore. Managing Director of JLL, Telangana and Andhra Pradesh, Sandip Patnaik, said that the real estate deal proves Hyderabad's favourable market sector for commercial and residential developments. Korupolu further said that the company has its presence in the South-West region and East, making ASBL's business expansion in the North-West of Hyderabad. It is the first venture of the company into the commercial sector. ASBL is executing 5 million sq ft of residential space in Hyderabad. Image Source Also read: Adani Realty bids for high rise residential complex in Mumbai

Related Stories

Gold Stories

Next Story
Products

Interio by Godrej launches modular workplace solutions

Interio by Godrej has launched Workscapes, a modular workplace solutions category designed to help organisations configure and adapt workspaces to changing requirements. The portfolio combines mobile and compatible furniture and support elements that can be rearranged across different work modes without changes to fixed layouts.Workscapes includes Collaboration Tables, Privacy Solutions, Mobile Markerboards and Space Dividers, Power Solutions, Storage and Support Elements, Meeting and Presentation Tools, and Seating Elements. The range is designed for focused work, collaboration, informal disc..

Next Story
Infrastructure Urban

CAFE-III Gives Auto Industry Investment Clarity

The government’s new Corporate Average Fuel Economy (CAFE-III) norms have provided the automobile industry with a clearer framework for technology investments, according to industry representatives. The framework seeks to balance environmental objectives with flexibility for manufacturers while encouraging the adoption of flex-fuel vehicles and biofuels. Society of Indian Automobile Manufacturers (SIAM) President Shenu Agarwal said the five-year framework would give automakers greater predictability to plan investments and accelerate innovation. He said the regulation established annual targ..

Next Story
Infrastructure Energy

Mines Ministry to Auction Two Offshore Mineral Blocks in Andaman Sea

The Ministry of Mines will launch an auction of two offshore mineral blocks in the Andaman Sea on Thursday, seeking to unlock India’s offshore mineral potential and strengthen long-term mineral resource security. The blocks will be offered under a composite licence, which permits exploration and development activities in accordance with the applicable regulatory framework. The ministry said the auction was intended to encourage systematic exploration, attract investment and promote the use of advanced technologies for offshore mineral exploration and development. The initiative is also aimed..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code