Hyderabad may see more land deals

Hyderabad: The 10-acre land parcel in Kukatpally, which was sold for Rs 235 crore three days ago, is likely to trigger more such deals in Hyderabad, especially involving builders from other States. This is mainly due to the Central government organisations gearing up to auction their lands in different areas of the city. This apart, […]

Hyderabad: The 10-acre land parcel in Kukatpally, which was sold for Rs 235 crore three days ago, is likely to trigger more such deals in Hyderabad, especially involving builders from other States. This is mainly due to the Central government organisations gearing up to auction their lands in different areas of the city.

This apart, faster approval of building applications through TS-bPASS will draw the attention of more builders from other States to Hyderabad, members of the Confederation of Real Estate Developers Associations of India (CREDAI), Hyderabad chapter, told Telangana Today.

Pointing out that there was a proposal from BSNL to auction a piece of land in Gachibowli, a CREDAI member said there are quite a few Central government organisations in Hyderabad that own substantial lands. “With the Centre keen on auctioning lands of various organisations, more deals or auctions are likely to take place in Hyderabad in the days to come,” he said.

Besides local builders, builders from other States would be keen to participate in such auctions and deals. Compared to other metro cities, land prices in and around Hyderabad are still affordable and this is the prime factor that draws the attention of builders from other States, he explained. These deals could be either for long leases or outright sale or joint ventures. It all depends on the sellers’ discretion and bidding agencies plans, he added.

Another striking aspect that Hyderabad has over cities is faster approval of building permissions under TS-bPASS. It generally takes a month for a mega project building plan to be approved in Hyderabad but in other cities, it could take six months and even a year in some cases, pointed another member of CREDAI Hyderabad.

“All these factors will definitely trigger more real estate activity in Hyderabad. More builders and developers from other States are expected to explore the Hyderabad market which is a welcome sign” he said. Ashoka Builders India (ASBL) bought 10-acre land at Kukatpally for Rs 235 crore. ASBL emerged as the highest bidder for the deal for the land, which was owned by a prominent company.

Also read:

Hyderabad: CREDAI property show from Feb 11 at Hitex

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