JLL concludes sale of 10-acre Hyderabad land to Ashoka Builders for ₹235 crore.

JLL, the country’s largest real estate consultancy firm, announced the completion of sale of 10-acre land in Hyderabad to real estate developer Ashoka Builders India (ASBL) at ₹235 crore. ASBL emerged the highest bidder for the deal. The land is situated at Kukatpally, a busy business hub in the north-western part of Hyderabad. It is also known for its thriving residential community and excellent connectivity to the city’s hotspots.

Sandip Patnaik, Managing Director, Telangana and Andhra Pradesh, JLL, said: “Renewed buyer confidence has been instrumental in supporting the Hyderabad real estate market recovery in Q3 2021, which recorded a healthy quantum of sales and launches as compared to the same period last year. These numbers are inching towards those in the pre-Covid era.”

ASBL added that it wants to construct a residential-cum-commercial space at the site. This will be ASBL’s first venture in commercial real estate. ASBL is currently executing 5 million sq. ft. of residential built-up space across Hyderabad.

HBL