Godrej Properties snags 3-acre plot in Hyderabad for Rs 1,300 crore

Godrej's Hyderabad expansion: Godrej Properties, a real estate developer and subsidiary of the Godrej Group, has recently acquired a 3-acre plot in Kokapet, Hyderabad, for approximately Rs 1,300 crore. This acquisition marks the company's second investment in Hyderabad, bringing the total booking value potential in the city to Rs 4,800 crore.

Kokapet's investment appeal

The newly acquired land, located near the Outer Ring Road junction and Golden Mile Road in Kokapet, holds notable potential in one of Hyderabad's prime real estate areas. Kokapet boasts a strong social and civic infrastructure, including educational institutions, healthcare facilities, and retail establishments, making it a destination for investment. 

Its strategic location ensures convenient access to the Rajiv Gandhi International Airport and various social and commercial hubs across the city.

Gaurav Pandey, the managing director and CEO of Godrej Properties, expressed enthusiasm about expanding their presence in Hyderabad, stressing the city's status as one of the largest and fastest-growing residential markets in the country.

This recent acquisition follows Godrej Properties' earlier entry into the Hyderabad market with the purchase of a 12.5-acre land parcel in Rajendra Nagar for Rs 350 crore. The company aims to develop a residential project spanning 4 million sq ft on this site, with an estimated revenue of Rs 3,500 crore.

Multi-city expansion

In addition to its ventures in Hyderabad, Godrej Properties has also made major acquisitions in other cities. These include securing a 6.46-acre plot in Noida for Rs 506 crore, intended for a housing project expected to yield Rs 3,000 crore in revenue. Furthermore, the company has initiated a joint venture for a 62-acre township project in Bengaluru, with an anticipated revenue of Rs 5,000 crore.