Truliv, Tamil Nadu's largest co-living startup and a subsidiary of DRA Homes, achieved 250% revenue growth in FY 2023-2024, reaching INR 16 crore. The company aims to add 3,500 more beds in FY 2024-2025 to maintain its market leadership. Truliv's success is driven by its build-to-suit designs, premium amenities, and technology-driven processes. Operating at full capacity, its 22 properties and 7 holiday homes cater to millennials and young professionals. With a 95% occupancy rate and strategic expansion plans in western and southern markets, Truliv targets a INR 50 crore topline in FY 2024-2025. The startup secured USD 1.5 million in pre-seed funding in June 2023.Read more

Hyderabad's prominent IT park, Waverock, has changed ownership once again. A joint venture between Shapoorji Pallonji Group and Allianz Real Estate (SPREF II) exited their investment in the property, selling it for approximately INR 2,200 crore. Waverock, a Grade-A IT SEZ located in Gachibowli, spans 2.4 million square feet and houses major tech companies like Apple. This transaction, involving a new joint venture of global institutional investors, including GIC and Xander Group, marks Waverock's third ownership change in recent years. The deal underscores the continued attractiveness of India's real estate market and Hyderabad's thriving IT sector.Read more

Aparna Constructions and Estates has ventured into the retail and entertainment sectors, investing INR 284 crore in Hyderabad. The company has allocated INR 252 crore to develop Aparna Neo Mall and INR 32 crore for Aparna Cinemas. The mall, located in Nallagandla, spans 3.67 acres and is set to open on May 31, 2024. Director Rakesh Reddy announced plans for four more malls featuring Aparna Cinemas across Telangana and Andhra Pradesh by 2027. Aparna's residential and commercial portfolios are also experiencing annual growth of 20% and 10%, respectively.Read more

Navanaami Projects Private Ltd., a Hyderabad-based real estate developer, has unveiled its flagship luxury residential project, The Megaleio, at a gala event. With an investment of INR 900 crore (USD 108 million), The Megaleio targets high-net-worth individuals (HNIs) and ultra-HNIs. Featuring units priced between INR 8 crore and INR 12 crore, 20% of the units are already sold, reflecting strong demand. Located in Appa Junction Peerancheru, the project boasts two 50-floor towers with 150 opulent residences. The development emphasizes luxury and sustainability, offering unique amenities like branded kitchens, home automation, and EV charging facilities.Read more

Microsoft Corporation has significantly expanded its data centre footprint in India with a strategic land acquisition in Hyderabad, Telangana. The acquisition of 48 acres of land in the Ranga Reddy district, valued at INR 267 crore, marks a substantial investment by Microsoft in the Indian data centre market. This move reflects Microsoft's commitment to meeting the growing demand for cloud computing solutions in India. With existing data centres in Pune, Mumbai, and Chennai, the addition of the Hyderabad data centre strengthens Microsoft's ability to support its cloud services and products across the country. Moreover, Microsoft's expanding presence in Hyderabad, including potential further data centre development and investment in flexible workspaces, highlights its long-term commitment to the Indian market and its role in India's digital transformation journey.Read more

Gachibowli, located in the western part of Hyderabad, Telangana, has rapidly evolved into a prime residential and commercial hub. Renowned for its well-planned infrastructure and proximity to major IT parks, it offers a variety of housing options, from high-rise apartments to independent villas, catering to diverse budgets and preferences. The area is self-sustaining with excellent educational institutions, healthcare facilities, shopping malls, and recreational spaces. In April, Jains Carlton Creek was the top-selling building with 4 deals, reflecting the locality's popularity. The varied apartment sizes and prices ensure Gachibowli accommodates everyone from luxury buyers to value-conscious homebuyers. The thriving real estate activity underscores Gachibowli's status as a desirable modern urban living destination.Read more

CapitaLand India Trust (CLINT), a Singapore-based REIT, expands its presence in Hyderabad's IT hub by acquiring 2.5 million sq. ft. of office space in HITEC City. The forward purchase agreement with Phoenix Group secures prime assets in a location with strong leasing demand. CLINT's phased investment approach strategically manages cash flow while benefiting from the area's growth potential. CEO Sanjeev Dasgupta highlights the strategic value of the acquisition, building on CLINT's successful track record in Hyderabad. This move highlights Hyderabad's appeal to major investors, driven by world-class infrastructure, SEZs, a skilled workforce, and government support, ensuring continued growth and innovation in HITEC City.Read more

UrbanWrk inaugurated a cutting-edge workspace spanning 50,000 sq ft at Raheja Mindspace, Hi-Tech City, Hyderabad, catering to enterprises with 50-500 employees. The design emphasises functionality and elegance, featuring a minimalist aesthetic with wooden rafters guiding visitors to various sections. With Hyderabad's flexi space market accounting for 6% of India's total, UrbanWrk's strategic move anticipates the city's entrepreneurial growth. Anuj Munot, Co-Founder and CEO, highlights the space's appeal to professionals and businesses seeking adaptability. With tech, BFSI, and flex spaces driving demand, Hyderabad's diverse industry landscape positions it for sustained flexi workspace growth, aligning with UrbanWrk's expansion strategy.Read more

E-infra, a prominent developer with a vast portfolio, has teamed up with Hero FinCorp to develop Elegant Nivasa, a luxury residential project in Hyderabad's prime location of Tellapur. Spread across 4 acres, the project comprises three 23-floor towers offering spacious apartments ranging from 1375 to 2205 sq. ft. With a lavish clubhouse and HMDA approval, Elegant Nivasa promises a luxurious lifestyle adhering to all regulations. This partnership aims to achieve a turnover of INR 300 crore in three years, supported by Hero FinCorp's financial expertise. Both parties' express enthusiasm for the collaboration, emphasizing luxury living, architectural finesse, and community building.Read more

In March 2024, Hyderabad witnessed a decline of 8% in residential property registrations, totaling 6,416 properties, although the total value surged by 12% year-on-year to INR 4,039 crore. The most common price range was between INR 25-50 lakhs, constituting 45% of registrations, while properties over INR 1 crore saw a significant increase to 16%. Apartments sized 1,000-2,000 sq ft dominated registrations, comprising 70% of the total. Rangareddy district led registrations with 46%, followed by Medchal-Malkajgiri at 40%. The weighted average transaction price rose by 12% year-on-year, with plush properties over 3,000 sq ft and valued upwards of INR 5.3 crores dominating the top deals. Q1 2024 launches primarily focused on 2-BHK and 3-BHK units. This underscores the dynamic nature of real estate demand and supply in Hyderabad, with developers adapting their strategies to meet changing preferences.Read more

Manikonda, located in the western outskirts of Hyderabad, Telangana, is quickly becoming a popular choice for people looking for a peaceful place to live. The area has good infrastructure, modern facilities, and various housing options, suitable for different budgets and preferences. Last month, ARKA by TEAM4 LifeSpaces was the best-selling building, closing 45 deals out of the 64 registered in Manikonda. Surrounded by beautiful landscapes, close to major IT hubs, and with easy access to the Outer Ring Road, Manikonda offers a perfect mix of city life and suburban tranquility.Read more

PNT Reporter

GOCL Corporation Limited (GOCL) has entered a joint development MoU with Squarespace Builders Private Limited to monetize 264.50 acres of land in Kukatpally for INR 3,402 crore. Additionally, they will jointly develop 32 acres of land in collaboration with Hinduja Healthcare Limited. The process will unfold over 18 months, with the immediate sale of 12.50 acres for INR 520 crore. Further disbursements of funds will occur through subsequent transactions. GOCL's real estate arm is actively involved in developing Ecopolis, a 40-acre IT and IT-enabled services special economic zone in Bengaluru, in partnership with Hinduja Realty Ventures.Read more

PNT Reporter

Omkara ARC, led by Manish Lalwani, bought Park Hyatt Hyderabad's non-performing loans (NPLs) at a 34% discount from lenders BlackRock and JM Financial. The luxury hotel, famed for its luxurious facilities and ideal location, secured its INR 450 crore main outstanding debt through a INR 300 crore all-cash transaction. This strategic decision shows Omkara ARC's experience in distressed asset sales and broadens its presence in the hospitality industry. The acquisition is consistent with Omkara ARC's overall strategy of discovering value-driven investments, which positions it as a prominent participant in the industry.Read more

Godrej Properties secured a three-acre land parcel in Hyderabad's Kokapet, enhancing its total booking value to INR 4,800 crore. The acquisition offers a potential of 1.2 million sq. ft., primarily for premium residential apartments. Positioned strategically near Kokapet's Outer Ring Road junction, the location provides easy access to key areas and amenities. Earlier, the company acquired 12.5 acres in Rajendra Nagar, anticipating revenues of INR 3,500 crore. It recently also secured a Noida land parcel with a projected revenue potential of INR 3,000 crore.Read more

Prestige Group celebrates the early completion of The Prestige Tranquil, a luxury residential project in Hyderabad, showcasing the company's commitment to exceptional living spaces. Spanning 7.85 acres in Kokapet, the project offers seamless connectivity near the Outer Ring Road, Airport, and Financial District. The high-rise boasts panoramic views, lavish amenities, and contemporary design, setting a new standard in Hyderabad's real estate. The clubhouse features a pool, café, banquet halls, and sports facilities, while landscaped spaces promote outdoor activities.Read more

Nexus Select Trust, Blackstone's retail division, is set to acquire a portfolio of three malls spanning 1 million sq ft in Hyderabad from L&T Metro for an estimated value exceeding INR 1,000 crore. The potential deal includes E Galleria, L&T Metro Mall, and Next Galleria Mall. This move follows Nexus Select Trust's strategic expansion in India, having added the Select City Walk mall in New Delhi last year. The retail sector's robust performance in India, marked by a 47% YoY increase in leasing in 2023, aligns with Nexus Select Trust's growth strategy.Read more

The Greater Hyderabad Municipal Corporation (GHMC) is currently facing uncertainty in completing the construction of 30,000 2-BHK houses in the city. These 2-BHK homes, initiated in 2015 by the previous government, are aimed at providing dignified and fully subsidized housing for underprivileged families. While 68,800 2-BHKs have already been distributed in various localities, the remaining 31,000 units are at a standstill awaiting the government's budgetary approval of Rs 1,500 crore for funding. The construction has been on hold for the last one and a half years, and GHMC plans to resume work once the required funds are released by the government.Read more

Blackstone-backed Nexus Select Trust is set to acquire three 'Hyderabad Next Galleria Malls' from Larsen & Toubro for $300-350 million, strengthening its retail portfolio. The malls are strategically located near metro stations which cover 1 million sq ft with an 84% occupancy rate. The deal includes e-Galleria, Next Galleria Mall, and Premia. This acquisition will boost Nexus' retail portfolio to 11 million sq ft. Blackstone previously acquired Seawoods mall from L&T in 2017. Nexus Select Trust's retail portfolio's gross asset value was Rs 21,924 crore in September 2023, with a 97% occupancy rate.Read more

CBRE South Asia Pvt. Ltd. analyses Hyderabad's real estate landscape, projecting a significant surge in the next 2-3 years. The city anticipates adding 35-38 million sq. ft. of premium business parks, driven by global corporations establishing operational hubs, back offices, R&D facilities, and regional headquarters. The office space demand, especially along the IT Corridor, increased by 63% since 2019, with Life Sciences, BFSI, and Technology sectors leading leasing. The residential market is stimulated by technology sector expansion, with over 130,000 units expected in the next years, concentrated in the western part near IT Corridor. Developers face challenges like rising costs and potential oversupply, emphasizing the need for strategic planning and partnerships. Overall, Hyderabad is positioned for vertical growth, attracting investors and homebuyers with generous FSI norms.Read more

Cinépolis introduces a state-of-the-art multiplex at Hyderabad's LULU Mall, boasting 5 screens and 1427 seats, setting a new standard in cinematic indulgence. With an emphasis on comfort, RealD 3D technology and Dolby Atmos, this venture elevates the movie watching experience. The multiplex features a gourmet dining counter and expands Cinépolis's footprint to 27 screens across Hyderabad and 127 screens in South India. This collaboration between Cinépolis and LULU Mall promises an immersive, culturally rich entertainment experience, blending world-class cinema with vibrant surroundings, setting a new benchmark in cinematic excellence.Read more