Godrej Properties sells homes worth over ₹1000 crore in its first project in Hyderabad

Godrej Properties said it has sold over 300 homes in its project 'Godrej Madison Avenue' in Kokapet in Hyderabad within a few weeks of launching the project

Listed real estate developer Godrej Properties Ltd has sold homes worth over ₹1,000 crores with a total area of over 0.84 million sq ft in its first housing project in Hyderabad that it launched earlier this year, the company said in a regulatory filing on March 25.

Listed real estate developer Godrej Properties Ltd has sold homes worth over ₹1,000 crores with a total area of over 0.84 million sq ft in its first housing project in Hyderabad that it launched earlier this year, the company said. (Representational photo)(Pixabay)

The project, Godrej Madison Avenue, is located in the Kokapet area. The company said it sold more than 300 homes within a few weeks of its launch in January. In terms of volume, the company has sold 0.84 million sq ft.

Kokapet is one of Hyderabad’s most sought-after residential and commercial hubs. The area also offers seamless connectivity to Outer Ring Road, the financial district, Gachibowli, and HITEC City.

“We are thrilled with the response to our first project in Hyderabad. This success reiterates the huge growth opportunity available to Godrej Properties in Hyderabad and the strong demand for premium residential developments in Kokapet. This success also strengthens our commitment to expanding in Hyderabad, where we will launch a second project shortly," Gaurav Pandey, MD and CEO of Godrej Properties, said.

Other transactions in southern India

In March, the company acquired a 10-acre land parcel in north Bengaluru's Yelahanka to develop a housing project with an estimated revenue potential of about ₹2,500 crore.

The company had said that the project would have a development potential of around 1.5 million sq ft, primarily for premium residential development and high-street retail.

Last year, the company acquired another 7-acre land parcel in Bengaluru to build a luxury housing project with an estimated revenue potential of ₹1,200 crore. The development on this land in Thanisandra will comprise a high-end residential project featuring premium residential apartments of various configurations.

Godrej Properties is a leading real estate developer in the country.