Godrej Properties Obtains Rs. 3,500 Crore worth land in Hyderabad

A leading Realty firm in India, Godrej Properties announced it has bought 12.5-acre land in Hyderabad to build up a housing project that holds Rs. 3,500 crore revenue potential. This significant move marks the company's commitment to venture into the property market of Hyderabad.

Godrej Properties has acquired the land at Rajendra Nagar in Hyderabad, the company said in a regulatory filing.

Speaking to this acquisition, the company said, "The development on this land is estimated to have a potential of around 4 million square feet of saleable area comprising primarily premium residential apartments of various configurations with an estimated revenue potential of about Rs. 3,500 crore".

Also Godrej Properties added that Hyderabad would be a significant market for the company as it already has a major occurrence in the market of Mumbai Metropolitan Region (MMR), Pune, Delhi-NCR (National Capital Regions), and Bengaluru.

On this regard, Gaurav Pandey, MD & CEO, Godrej Properties commented, “The Godrej Properties is entering 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”.