Godrej Properties recently purchased a 3-acre piece of land in Kokapet, Hyderabad, planning to build a housing project covering 1.2 million square feet that could bring in revenue of Rs 1,300 crore. This marks the company’s second big move in Hyderabad, raising their total potential revenue from the city’s projects to Rs 4,800 crore.
This purchase fits into Godrej Properties’ plan to construct premium residential buildings in India’s top real estate markets. “We’re excited about our new project in Hyderabad, one of India’s rapidly growing housing markets. Our goal is to create a top-notch living space that offers great value to the people living there,” said Gaurav Pandey, the company’s CEO and managing director.
The plot is ideally located near the intersection of the Outer Ring Road and Golden Mile Road in Kokapet, a prime area known for its excellent amenities like schools, hospitals, and shopping centers. This location is also conveniently close to the Rajiv Gandhi International Airport and various key areas in Hyderabad, making it a prime spot for real estate development.
Earlier in February, Godrej Properties entered the Hyderabad market with a 12.5-acre land purchase in Rajendra Nagar for Rs 350 crore, planning a project that will span 4 million square feet and is expected to generate about Rs 3,500 crore from residential sales.
Following that, the company bought a 6.46-acre plot in Noida for Rs 506 crore, with plans for a residential project anticipated to bring in Rs 3,000 crore. They also started a joint venture on a 62-acre township in Bengaluru, aiming for revenues of Rs 5,000 crore, showing their aggressive strategy for growth.
Operating under the larger Godrej Group umbrella, Godrej Properties has a significant presence in several key Indian cities, including the Delhi-NCR, Mumbai, Bengaluru, Hyderabad, and Pune.
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