hyderabad amid an intensifying second covid19 wave hyderabads realty sector has got a shot in the arm with citybased ira realty tech pvt ltd signing a deal for 53 acres with a group of hnis high net worth individuals to develop an integrated township project in shamshabad the deal was brokered by leading real estate consultancy services firm jones lang lasalle jllspeaking about the rs 1500 to rs 2000 croreworth project expected to eventually spread over 150 acres narsi reddy chairman and managing director of ira realty said the township will comprise affordable apartments in the rs 45 lakh to rs 50 lakh range highend villas rs 25 crore and above an international school hospital and commercial ventures we have applied for permissions and the project is expected to be rolled out in the next few weeksas per plan the school is set to start operations by the next academic year while the villas are likely to be ready in three years we are hopeful that the basic infrastructure will be up and running in 18 months reddy said upholding shamshabad as the next big realty destination of hyderabad after the it corridor it has great infrastructure and is not as expensive as financial district we see great potential in area and believe we can create valuations to the tune of rs 1000 crore here he added according to sandip patnaik managing director and head jll telangana and andhra pradesh shamshabd has not only seen a significant rise in endcustomer demand and since 2018 but also piqued the interest of developers owing to its proximity to commercial hubs in the past two years shamshabads residential as well as plot development projects have seen a significant uptake he added according to jlls q1 residential market report residential sales in q1 january to march 2021 recovered to more than 90 of the volumes witnessed in q1 of 2020 precovid across the top seven cities residential market in hyderabad particularly the gachibowli manikondakukatpally belt accounted for more than 65 of the sales during the quarter