"Godrej Properties Acquires Hyderabad Land for Rs 1,300 Crore Housing Project"

Real estate developer Godrej Properties has successfully secured a 3-acre plot in Kokapet, Hyderabad, aiming to develop a residential project covering 1.2 million square feet of saleable area, with an estimated revenue potential of Rs. 1,300 crore.

This acquisition marks the company's second land procurement in Hyderabad, elevating the overall booking value potential in the city to Rs. 4,800 crore.

In alignment with its strategic objectives, Godrej Properties emphasized its commitment to developing high-quality residential projects across India's premier real estate markets. Gaurav Pandey, Managing Director and Chief Executive Officer of Godrej Properties, expressed satisfaction with the expansion, highlighting the company's focus on creating long-term value for residents in Hyderabad.

Strategically situated near the Outer Ring Road junction and Golden Mile Road in Kokapet, the acquired land holds significant potential within one of Hyderabad's prime real estate hubs. Kokapet's robust social and civic infrastructure, including educational institutions, healthcare facilities, and retail spaces, enhances its appeal as an investment destination. Additionally, its strategic location ensures convenient access to the Rajiv Gandhi International Airport and key social and commercial districts across the city.

Godrej Properties made its debut in Hyderabad in February by acquiring a 12.5-acre land parcel in Rajendra Nagar for Rs 350 crore. The upcoming project is expected to offer a saleable area of 4 million square feet, with an estimated revenue of Rs 3,500 crore from residential assets.

In a recent development, Godrej Properties also secured a 6.46-acre plot in Noida for Rs. 506 crore, designated for a housing project projected to yield Rs. 3,000 crore in revenue. Moreover, the company has initiated a joint venture for a 62-acre township project in Bengaluru, anticipated to generate revenue of Rs. 5,000 crore, underscoring its commitment to expansive growth and development.

Godrej Properties, a subsidiary of the Godrej Group, operates in key real estate markets including Delhi-NCR, Mumbai Metropolitan Region (MMR), Bengaluru, Hyderabad, and Pune.

BS