In a tightly contested 10 acre land deal for the prime location of Kukatpally, ASBL (Ashoka Builders India Pvt Ltd) has emerged as the highest bidders at a whopping Rs. 235 Crores. This deal was closed in a record time for just 8 months, thanks to JLL’s (transaction partner for the deal) robust market intelligence.
The land is situated at Kukatpally ‘Y’ Junction which is known for its thriving residential community and excellent connectivity to the city’s hotspots. The great connectivity in the form of the recently inaugurated Balanagar flyover, metro, and all other forms of commute, make this land a lucrative investment opportunity.
This acquisition has been made keeping certain key developments from the company standpoint in mind.
This investment diversifies ASBL’s presence on all sides of Hyderabad. They are already present in South-West through their projects, namely, ASBL Lakeside in Khajaguda, ASBL Spire in Kokapet, and ASBL Spectra in Gachibowli. In the East, ASBL is establishing a footing with ASBL Springs in Pocharam-Uppal. The Kukatpally land in question marks ASBL’s expansion into the North-west of Hyderabad.
Diversification also comes in terms of the product offerings. ASBL has been carving a niche in the space of residential living communities until now. They intend to investment a total of Rs. 600 crores in this project because this would be the first time they would venture into mixed-use development, combining premium residential development and grade A commercial space.
Mr. Ajitesh Korupolu, the founder and CEO of ASBL, seems to be especially excited about this project because it has brought a new challenge in front of him. After establishing a footing in the world of residential realty through tech in construction, now he has the opportunity to expand ASBL’s portfolio even further. With this deal, he is certain that ASBL’s robust backend technology will help them deliver a thriving residential-commercial community by June 2025.