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Nilima Prasad Divi, daughter of Divi's Laboratories founder, Murali Divi, has purchased two properties in Hyderabad's Jubilee Hills for INR 80 crore. Each plot measures 11,043 square feet, bought at INR 40 crore apiece. This transaction highlights Jubilee Hills' premium real estate market, where land prices range from INR 25,000 to INR 35,000 per square foot. The area's exclusivity, with low-density neighbourhoods and large plots, attracts affluent buyers. This trend aligns with increased luxury real estate investments in India's major cities, driven by the rising number of high-net-worth individuals seeking spacious, luxurious living environments.
Nilima Prasad Divi, daughter of Murali Divi, founder of leading pharmaceutical company Divi's Laboratories, has purchased two properties in Hyderabad's posh Jubilee Hills area for a total of INR 80 crore. This significant transaction underscores the continued strength of Hyderabad's luxury real estate market, particularly among high-net-worth individuals (HNWIs). Advertisement
Property sale documents reveal that each plot measures approximately 11,043 square feet (1127 square yards). At INR 40 crore each, these purchases showcase the premium pricing in Jubilee Hills, where land prices can range from INR 25,000 to INR 35,000 per square foot. This translates to a price range of INR 2.75 crore to INR 3.92 crore per standard plot size of 1,000 square yards, making it one of the most expensive locations in India for both commercial and residential properties.
Jubilee Hills has emerged as a favourite residential destination for Hyderabad's affluent population. Known for its low-density neighbourhoods and spacious plots often exceeding 1,000 square yards, the area offers a luxurious and private living environment. This exclusivity comes at a premium, with some properties in Jubilee Hills, Banjara Hills, and Gachibowli fetching even higher prices than the standard market rate. For instance, last year, the owner of the GVK Group sold two properties spread across 2,812 square yards for INR 73.81 crore in Jubilee Hills, indicating a price per square yard of approximately INR 2.63 crore.
Hyderabad is not alone in experiencing a surge in demand for luxury real estate. Major cities like Mumbai, Bengaluru, and Delhi-NCR have also witnessed a similar trend in recent years. This growth can be attributed to several factors, including the rise of high-net-worth individuals (HNWIs) as India's growing economy has led to a significant increase in their numbers. According to a report by Knight Frank, India now has over 11,000 HNWIs with a combined wealth of over USD 8 trillion. These individuals are increasingly seeking investment opportunities in luxury real estate, which offers potential for capital appreciation and a hedge against inflation. Additionally, the COVID-19 pandemic has led to shifting preferences among homebuyers, with many seeking larger spaces and more luxurious amenities. Jubilee Hills' low-density neighbourhoods and spacious plots cater to this growing demand for privacy and exclusivity.
Nilima Prasad Divi's purchase adds to the growing list of prominent figures from the pharmaceutical industry who have invested in Hyderabad's luxury real estate market. This includes names like Girdharilal Bawri, Banwarilal Bawri, and Rajendra Agarwal of Macleods Pharmaceuticals; Siddharth Shah of PharmEasy; and Dilip Surana of Micro Labs. This trend highlights the growing confidence and investment potential that HNWIs see in Hyderabad's luxury market.
While investment is a key factor, the decision to purchase luxury real estate in Jubilee Hills goes beyond pure financial considerations. The area offers a distinct lifestyle experience, with proximity to upscale shopping malls, renowned educational institutions, and world-class healthcare facilities. Additionally, Jubilee Hills boasts a vibrant social scene with exclusive clubs and restaurants, catering to the discerning tastes of its residents.
The INR 80 crore property purchase by Nilima Prasad Divi serves as a strong indicator of the robustness and potential of Hyderabad's luxury real estate market. With a growing number of HNWIs seeking prime locations, spacious properties, and a luxurious lifestyle, Jubilee Hills and other affluent areas in Hyderabad are likely to see continued demand and potential price appreciation in the coming years. This trend reflects a maturing luxury real estate market in Hyderabad, poised to cater to the evolving needs and aspirations of India's growing class of affluent individuals.
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