HYDERABAD: The Markets and Land division of the real estate services firm CBRE has termed the buying of 25 acres land in Narsingi for a whopping Rs 800 crore by the real estate developer Rajapushpa Properties as ‘India’s largest land deal of 2020’.
According to a press release issued by the CBRE on Sunday, the deal includes 18 acres of direct purchase and seven acres of joint development proposed for development of a high-end residential township.
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.
The release stated that Hyderabad’s real estate industry witnessed investments of one billion USD from 2019-2020 and it was expected to increase by over 50 per cent, a majority of which would go into the development of commercial offices and residential skyscrapers.