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Godrej Properties Limited announced it has acquired 3 acres in Kokapet, Hyderabad. The company’s second land acquisition in Hyderabad in the past month is estimated to have booking potential of ₹4,800 crore.
The site is close to the Outer Ring Road junction and Golden Mile Road in Kokapet. It has potential for approximately 1.2 million square feet of saleable area; the development will primarily consist of premium residential apartments. The expected booking value is around ₹1,300 crore.
Gaurav Pandey, Managing Director and CEO of Godrej Properties, said, “We are pleased to add another project in Hyderabad, which is amongst the largest and fastest growing residential real estate markets in the country. It aligns well with our expansion strategy and will further solidify our position as a leading national real estate developer. We will aim to build an outstanding residential community that creates long-term value for its residents.”
The company said the site’s connectivity to Rajiv Gandhi International Airport and key social and commercial hubs within the city makes it appealing to prospective residents.
The shares were down by 0.36 per cent to ₹2,197.65 at 10.56 am on the BSE.
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