Introduction
Godrej Properties, the real estate development arm of the Godrej Group, recently acquired a 3-acre plot of land in Hyderabad’s Kokapet area. This marks their second land acquisition in Hyderabad. Their total development revenue in the city has reached ₹4,800 crore.
Table of Contents
- High-Quality Residential Real Estate Markets
- Our Position as a Leading National Real Estate Developer: CEO
- Godrej Properties Has Been Making Its Presence Known
Mumbai-based real estate development on this land has an estimated salable area of around 1.2 million square feet (MSF). Out of which, there are mainly residential apartments of various configurations with a booking value of Rs 1,300 crore. This strategic acquisition will develop high-quality residential projects in leading real estate markets in India.
High-Quality Residential Real Estate Markets
Godrej Properties plans to develop a premium residential project whose location is strategically located near the Outer Ring Road junction and close to the Golden Mile Road. Kokapet is known as one of the largest commercial and residential real estate markets in Hyderabad.
The move is in line with Godrej Properties’ strategy of building high quality residential projects in India’s leading real estate markets. The company aims to build an outstanding residential community that adds long-term value to its residents.
Their recent foray into the Hyderabad property market saw them acquire 12.5 acres of land in the Rajendra Nagar area, with a revenue potential of ₹3,500 crore based on current business estimates. The land is located in Ayakattu area of Kokapet near outer ring road junction. Kokapet is one of the largest commercial and residential real estate markets in Hyderabad.
Our Position as a Leading National Real Estate Developer: CEO
Godrej Properties MD and CEO Gaurav Pandey said, “Hyderabad is one of the fastest growing residential real estate markets in the country. This acquisition is in line with our expansion strategy. Consolidating our position as a leading national real estate developer. We have acquired these residential properties with the aim of building an outstanding residential community that creates long-term value for its residents. He does not say that.
It has well-developed infrastructure in close proximity to multiple schools, hospitals, retail, residential and commercial spaces. The location has connectivity to Rajiv Gandhi International Airport and all major social and commercial areas of the city.
Godrej Properties Has Been Making Its Presence Known
In a recent acquisition, Godrej Properties bought a 6.46 acre plot in Noida for Rs. 506 crores and 3,000 crores have been earmarked for the housing project to generate income. Additionally, the company has initiated a joint venture for a 62-acre township project in Bangalore.
Through this Rs. 5,000 crore in revenue, it underlines its commitment to tremendous growth and development. Currently, it is strengthening its presence in Hyderabad as well. Aims to provide quality residential housing on time.
Conclusion
Godrej Properties Limited (GPL) has acquired 3 acres of prime land in Kokapeta, Hyderabad, the company disclosed. The Mumbai-based real estate developer sees Hyderabad as an important market for future growth. Hyderabad is expected to be an important market in the coming years as it continues to contribute to the real estate landscape of the city. For more information, visit our Openplot.
Also read: Godrej Properties to Build a Township in Bengaluru