March 14, 2024: Real estate developer Godrej Properties today announced that it has acquired a 3-acre land parcel in Hyderabad’s Kokapet. This marks the company’s second land acquisition in Hyderabad in the past one month, taking the overall booking value potential added in Hyderabad to Rs 4,800 crore.
The development on this land is estimated to have a potential of approximately 1.2 million square foot (msf) of saleable area, comprising primarily residential apartments of various configurations with an estimated booking value of Rs 1,300 crore. This strategic acquisition is in line with the company’s strategy of developing high-quality residential projects across India’s leading real estate markets.
The land is located in a strategic 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 and has a well-developed social and civic infrastructure with multiple schools, hospitals, retail, residential and commercial spaces in proximity. The location offers connectivity to the Rajiv Gandhi International Airport and all major social and commercial areas in the city.
Gaurav Pandey, MD and CEO, Godrej Properties, said, “This acquisition 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.”
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