CBRE India Largest Land Deal of 2020 in Hyderabad
CBRE’s Capital Markets & Land division announced India’s largest land deal of 2020 in Hyderabad with one of the top-tier developers in Hyderabad having bought 25 acres of land in Narsingi, Western Hyderabad. The deal 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.
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.
Hyderabad’s organised real estate industry also witnessed investments of about USD 1 billion from 2019-2020. This is expected to increase by over 50% in the next few quarters. Majority of these investments will go into the development of commercial offices and residential skyscrapers. This growth indicates that occupiers are likely to expand owing to investment-friendly policies. CBRE also expects sustained occupier interest in quality developments in the coming quarters in the city.