HYDERABAD: If you thought Shamashabad‘s potential to become a real estate hotspot has ended then think again. Hyderabad-based developer, Ira Realty Tech Pvt Ltd has recently aquired a large chunk of land in one of Shamshabad’s prime localitiesmeasuring 53 acres from a few high-net-worth individuals, for development of a large township with villas.
The deal was engineered by the real estate consultancy JLL India, as a joint development agreement between the developer and the HNI individuals. A press release by JLL India said that the developer will leverage the 53 acres land parcel to customised tailor-made plots and eventually into a villa community in more than 100 acres as a township project. expected to cost Rs 1,000 crore. Ira Realty, CMD, Narsi Reddy said, “We are now gearing up to capitalise on the massive demand for premium plotted development residential spaces in this location, where land parcels are scarce and come with a premium price tag.”
Area saw rise in end customer demand
Between 2006 and 2008, Shamshabad real estate boom was led by speculators largely and not by end-customer and hence the real estate growth could not last long. But since 2018, Shamshabad has seen a rise in end customers demand and developers’ interest due to its proximity to commercial hubs