Godrej Properties acquires three acres in Hyderabad, second deal in two months
Godrej Properties, the real estate development arm of Godrej Group, has acquired over 3-acres land parcel in Hyderabad’s Kokapet locality. This is the second land parcel acquired by the company in Hyderabad, taking its overall development revenue potential to Rs 4,800 crore in the city.
The land has a total development potential of 1.2 million sq ft of saleable area and the company is planning to develop a premium residential project here with an estimated booking value of Rs 1,300 crore.
This acquisition is in line with Godrej Properties’ strategy of developing high-quality residential projects across India's leading real estate markets.
In February, Pirojsha Godrej, executive chairperson, Godrej Properties had told ET in an exclusive interaction that the company expects to surpass its business development guidance of Rs 15,000 crore for the current financial year, driven by a robust deal pipeline and ongoing consolidation in the real estate market across the country.
The new land parcel 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
“It (the deal) 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 & CEO, Godrej Properties.
The developer recently
