In Last couple of months, real estate action in hyderabad has been quite exciting. Realty firm Puravankara Ltd has sold a 19-acre land parcel in Hyderabad for Rs. 475 crore to pharmaceuticals company Hetero group as part of its strategy to monetise assets and cut debt. Bengaluru-based real estate developer Puravankara Ltd had bought this land way back in 2007-08 for Rs. 403 crore.
The company has already launched housing project Puravankara Provident Kenworth in Rajendra Nagar on 20 acres of land parcel in Hyderabad and is also constructing commercial projects on over three acres of land.
In other news, Bangalore Based Salarpuria Sattva Group has bought 10 acres of premium land in Hitec City in Hyderabad from BPTP, a Gurgaon-based builder for an undisclosed amount. The deal was closed last week and Salarpuria plans to build 4 million sq ft office space.
Last Year, Salarpuria Sattva Group has launched mixed development project MAGNUS at Jubilee Hills.
About 10 million sq ft of commercial space is under construction in the city. Knowledge City by Salarpuria Sattva Group is one of the biggest projects coming up in Hitec City, Hyderabad, with an outlay of $1 billion. Some of the large clients at the business park include Novartis Healthcare and Microsoft India (R&D).
Following up on three landmark projects, Knowledge City, Cyber Park and Necklace Pride in Hyderabad, the Salarpuria Sattva Group has launched mixed development project MAGNUS at Jubilee Hills, Shaikpet, adjacent to Hitech City, Last Year.