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caters to the urban lifestyle requirements of existing residents and 38% compared to the same period last year.
future home buyers.
The company has acquired this project to redevelop the housing GODREJ & BOYCE SELLS 10 ACRES IN HYDERABAD TO
project as part of its plan to expand footprint and build residential ASHOKA BUILDERS INDIA FOR `235 CR CONSTRUCTION
properties in key prime markets of Mumbai. With a purpose to Godrej & Boyce Manufacturing Company has sold a prime 10-
create landmark across the nation, this project will be built to acre land parcel in Hyderabad to real estate developer Ashoka
fulfil the needs of high net worth individuals. Enriching the good Builders India (ASBL) for `235 crore, said persons with direct
quality of life of existing and new residents, the project is driven knowledge. As most of the land parcels anywhere in the country
by a desire to make living a joyful and wholesome experience for are being monetised by owners through either a joint venture or
the customers keeping in mind its proximity to colleges, shopping, development management agreements, this is one of the largest
hospitals, entertainment, office space and city centres makes single outright deals of 2021.
it a sought-after real estate destination. The project tenure is The land parcel is situated at Kukatpally, a busy business hub
estimated to be 2 years. which is in the North-western part of Hyderabad. The buyer is
planning to build a mixed-use development, combining premium
HOUSING SECTOR TO BUILD ON THIS YEAR’S GROWTH residential development and Grade A commercial space by
IN 2022 June 2025.
Lower mortgage rates, the pandemic-driven realisation of the This project will be ASBL’s first venture into commercial real estate
need for housing, and stable property prices are expected to aid and the connectivity Kukatpally enjoys due to the recently
a sustained recovery in the residential property market next year. inaugurated flyovers, metro rail, and all other forms of commute,
The housing market across the country has witnessed green makes the land parcel a lucrative investment opportunity.
shoots of recovery and is expected to gain further momentum Bolstered by affordable synergies and the growing need for
hereon. With strong end-user demand and accommodative homeownership supported by all-time low mortgage rates, stamp
market conditions, average sales volume is expected to reach duty waivers in various states and stable prices are driving housing
the average quarterly sales recorded in the pre-Covid year of demand recovery.
2019. The top seven cities witnessed a sequential growth of 21% in new
Key property markets in Mumbai, Pune, Bangalore, Hyderabad, launches, with 32,863 units during September quarter. Hyderabad
and Ahmedabad have already touched these levels. The saw the highest new launches forming 28% of overall new
year 2021 has been one of the breakthrough years for the real launches during the quarter.
estate industry, which bounced back after showing resilience, ASBL is a rapidly growing new-age real estate company. Over the
innovation, and performance. The demand and sales last five years, ASBL has carved a niche in the field of construction
momentum is expected to continue in 2022 as well as more technology.
people realise the importance of owning a home. Low interest Over the last five years, ASBL has emerged as one of the leading
rates and hybrid working will help drive demand. Renewed buyer real estate companies in Hyderabad. Currently, the developer is
confidence, reduced home loan rates, and incentives offered executing residential projects spread over 5 million sq ft built-up
by the developers have been instrumental in supporting the space across the southern city.
residential market recovery over the last 15 months.
According to experts, the benign interest rate regime will continue ASIAN GRANITO INDIA LTD PLANS ONE OF WORLD’S
for some more time, and that will help homebuyers convert their LARGEST TILES SHOWROOM IN GUJARAT
demand into actual buying. India’s leading tiles brand - Asian Granito India Ltd is planning to
The increased demand momentum, limited inventory in select launch one of the World’s largest Tiles showroom in India’s Tiles
segments, and rising input costs are expected to result in a 5-7% hub - Morbi, Gujarat. The showroom is conceptualised in 1.5 lakh
price increase in select residential micro-markets. According square feet area and aims to showcase AGL Group’s production,
to a recent JLL study, prices are otherwise expected to remain technological excellence at one place. The showroom will have
largely stable, with the main objective of developers focused on the entire range of the group’s exquisite and innovative range of
supporting the current momentum in sales activity and driving Sanitaryware, Bathware and Engineered Marble and Quartz range
it further. The analysis suggests that 2022 will register 20%-25% including 5,000 plus Tiles products in all sizes, designs and finishes
annual growth in sales as compared to the previous year due under one roof. Bhoomi Poojan of the showroom is scheduled on
to affordable synergy and other positive market conditions. With 15 January 2022.
strong end-user demand and conducive market conditions, The five storey showroom will be designed as a one-stop-solution
average sales volume is expected to reach the average to meet the diverse needs of household, architect, builder for
quarterly sale of 35,926 units recorded in the pre-Covid year of building their dream projects as well as keeping in mind the needs
2019. The January-September 2021 period recorded a healthy of the International markets. The showroom will have 150 plus
quantum of sales and launches, which is inching towards those Quartz, 350 plus Sanitaryware, 50 plus series of CP Fittings and
of the pre-Covid era. Sales of more than 77,000 residential units 5,000 plus Tiles designs at one place. The showroom will further
were recorded in the first three quarters of 2021, an increase of strengthen the positioning of Asian Granite in the International
47% compared to the same period last year. New launches of markets. Company currently exports in over 100 countries and is
around 93,000 units were recorded, indicating an increase of ranked as one of the top tiles exporters from India.

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