Godrej Properties acquires land parcel in Hyderabad for ₹1,300 crore housing project

This is Godrej Properties' second land acquisition in Hyderabad taking the overall booking value potential added in the city to ₹4,800 crore

Published on: Mar 14, 2024, 10:36:41 IST

By HT News Desk

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Real estate major Godrej Properties Limited (GPL) announced on April 14 that it has acquired around 3-acres of land in Kokapet, Hyderabad, to develop a residential project with an estimated revenue potential of ₹1300 crore, the company said in a regulatory filing.

Real estate major Godrej Properties Limited (GPL) announced on April 14 that it has acquired around 3-acres of land in Kokapet, Hyderabad (Picture for representational purposes only) (Pixabay)

This is the company’s second land acquisition in Hyderabad and will take the overall booking value potential added in the city to ₹4,800 crore.

Also Read: Godrej Properties acquires a 12.5-acre land parcel in Hyderabad; eyes revenue potential of ₹3500 crore

The development on this land is estimated to have a potential of around 1.2 million square feet of saleable area comprising primarily premium residential apartments of various configurations with an estimated booking value of around ₹1,300 crore, the company said.

Also Read: Real estate developers acquire 1,947 acres of land valued at ₹32,203 crore in CY2023

The land is located in a strategic and high-potential area in Kokapet near the Outer Ring Road junction close to Golden Mile Road. Kokapet is one of the largest commercial and residential real estate markets in Hyderabad and has a well-developed social and civic infrastructure. The location offers connectivity to the Rajiv Gandhi International Airport and all major social and commercial areas in the city.

Also Read: Godrej Properties to develop township project in Bengaluru with a revenue potential of ₹5000 crore

"We are pleased to add another project in Hyderabad, which is amongst the largest and fastest growing residential real estate markets in the country. It aligns well with our expansion strategy and will further solidify our position as a leading national real estate developer. We will aim to build an outstanding residential community that creates long-term value for its residents.” said Gaurav Pandey, MD, and CEO, Godrej Properties.

Also Read: Godrej Properties highest bidder for land parcel in Noida with revenue potential of ₹3000 crore

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HT News Desk
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