Real estate company Godrej Properties Ltd. said on Wednesday that it had purchased a 12.5-acre plot of land in Hyderabad with the intention of building a housing complex with a potential income of Rs 3,500 crore. This is the company's entry into the real estate industry in Hyderabad.
Godrej Properties announced in a regulatory filing that it had purchased 12.5 acres in Hyderabad's Rajendra Nagar neighborhood.
"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," the business stated.
Hyderabad, according to Godrej Properties, would be a significant market for the business. The National Capital Regions of Delhi-NCR (Mumbai Metropolitan Region), Bengaluru, Pune, and Mumbai are hubs for Godrej Properties.
Godrej Properties' MD and CEO, Gaurav Pandey, announced the company's entry into Hyderabad, one of the nation's biggest and fastest-growing residential real estate markets.
"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," he stated. Speaking of the company, Godrej Properties is one of the top developers of real estate in the nation. It is a division of the Godrej Group, a corporate giant.
