Godrej Properties buys land parcel in Hyderabad for Rs 1,300 crore housing project

By Bricksnwall | 2024-03-14

Godrej Properties' second land acquisition in Hyderabad brings the total booking value potential to ₹4,800 crore.

Godrej Properties Limited (GPL) has bought around 3 acres of property in Kokapet, Hyderabad, for a residential project with an estimated revenue potential of ₹1300 crore, according to a regulatory filing.

This is the company's second land acquisition in Hyderabad, increasing the whole booking value potential to ₹4,800 crore.

The development on this land is projected to have roughly 1.2 million square feet of saleable space, consisting predominantly of premium residential flats of various configurations, with an estimated booking value of around ₹1,300 crores, according to the business.

The site is located in a strategic and high-potential sector of Kokapet, near the Outer Ring Road intersection and Golden Mile Road. Kokapet is one of Hyderabad's largest business and residential real estate markets, with a robust social and civic infrastructure. The location is convenient for accessing the Rajiv Gandhi International Airport as well as the city's major social and business centers.

We are pleased to announce the addition of another project in Hyderabad, one of the country's largest and fastest-growing residential real estate markets. It is consistent with our expansion strategy and will strengthen our position as a top national real estate developer. We will strive to establish an extraordinary residential community that provides long-term value to its residents." remarked Gaurav Pandey, MD and CEO of Godrej Properties.

Source: Hindustan Times