Godrej Properties Limited (GPL), one of India's leading real estate developers, announced that it has acquired 12.5 acre of land in Rajendra Nagar in Hyderabad. Hyderabad is expected to be an important market for the Mumbai based developer in the years ahead.
The land is located in a strategic and high-potential area in Rajendra Nagar. The development on this land is estimated to have a potential of 4 million square feet of saleable area comprising primarily of premium residential apartments of various configurations with an estimated revenue potential of INR 3,500 cr. The project will cater to the aspirations of discerning home buyers in Hyderabad, who are looking for a high-quality living experience with modern amenities and design.
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.
