Lansum Properties Acquires INR 200 Crore Land in Kokapet for Luxury Residential Development

Hyderabad:

Lansum Properties, a renowned developer based in Hyderabad, has acquired a 3.6-acre land parcel in Kokapet for approximately ₹200 crore.

This prime location will be transformed into a luxury residential development in Kokapet, as confirmed by sources familiar with the deal.To finance this upscale project, Lansum Properties has raised ₹250 crore from IndusInd Bank.

Land prices have been on the rise due to increased demand from builders. The company has registered the transaction and secured construction finance for the development," said a source.

The high-end residential project will feature units priced above ₹2.4 crore, with configurations including three-bedroom, hall, and kitchen (BHK) and four-BHK options. The project will boast 55 floors, taking full advantage of the unlimited floor space index (FSI) available in Hyderabad.The residential market in Hyderabad continues to show robust demand, particularly for high-end homes.

Sales registrations for properties priced over ₹1 crore surged by over 50% in March 2024 compared to the same period last year, boosting the weighted average in the city.The average land price in Kokapet's IT belt has nearly doubled to ₹75-80 crore per acre from less than ₹40 crore in 2021.