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Thursday, July 25, 2024

Godrej Properties acquires about three-acres of land in Kokapet

Godrej Properties (GPL) has acquired about three-acres of land in Kokapet, Hyderabad. This is the second land acquisition for GPL in the city and will take the overall booking value potential added in Hyderabad to Rs 4,800 crore.

The development on this land is estimated to have a potential of ~1.2 million sq ft of saleable area comprising primarily premium residential apartments of various configurations with an estimated booking value of about Rs 1,300 crore.

In February 2024, the company had acquired about 12.5 acre of land in Rajendra Nagar. The development on this land is estimated to have a potential of approximately 4 million sq ft of saleable area comprising primarily of residential apartments with an estimated revenue potential of about Rs 3,500 crore.

The company has been on land acquiring spree across India. It was declared the highest bidder and has secured the allotment letter to develop a land parcel in Noida through an e-auction conducted by the Noida authority. Spread over about 6.46 acres, the land is located in Sector 44 and will offer approximately 1.4 million sq ft of development potential and an estimated revenue potential of about Rs 3,000 crore.

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