February 14, 2024: Godrej Properties Limited (GPL) has acquired 12.5 acre of land in Rajendra Nagar in Hyderabad.
In a regulatory filing, the company mentioned that the estimated revenue potential of this land is around Rs 3,500 crore. The development on this land is estimated to have a potential of 4 million square foot (msf) of saleable area comprising primarily of premium residential apartments of various configurations.
According to GPL’s official statement, Hyderabad is expected to be an important market for the Mumbai-based developer in future. The land is located in a strategic and high-potential area at Rajendra Nagar.
Rajendra Nagar has a well-developed physical and social infrastructure with the presence of schools, colleges, hospitals, and retail outlets. The location offers connectivity to the Rajiv Gandhi International Airport and all major social and commercial hubs of Hyderabad city.
“We are pleased to announce our entry into Hyderabad, which is amongst the largest and fastest growing residential real estate markets in the country. This acquisition is in line with our strategy of strengthening our portfolio across the key markets in India and we will seek to deliver a landmark project that creates long-term value for its residents,” said Gaurav Pandey, MD and CEO of Godrej Properties.
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With 16+ years of experience in various sectors, of which more than ten years in real estate, Anuradha Ramamirtham excels in tracking property trends and simplifying housing-related topics such as Rera, housing lottery, etc. Her diverse background includes roles at Times Property, Tech Target India, Indiantelevision.com and ITNation. Anuradha holds a PG Diploma degree in Journalism from KC College and has done BSc (IT) from SIES. In her leisure time, she enjoys singing and travelling.
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