Advertisement
Godrej Properties has acquired around 7.82 acres of land in Kukatpally, Hyderabad, for nearly INR 550 crore through an e-auction held by the Telangana Housing Board. The company will develop a housing project on this site, with an estimated revenue potential of INR 3,800 crore. Industry observers note that the price per acre achieved in this auction is significantly higher than recent sales in the same locality, reflecting rising demand. With this move, Godrej strengthens its growing presence in Hyderabad's residential market.
Godrej Properties has secured about 7.825 acres of land in Kukatpally, Hyderabad, for close to INR 550 crore. The land was awarded after the developer emerged as the highest bidder in an e-auction conducted by the Telangana Housing Board. The board is expected to complete the required process before issuing the allotment letter. Advertisement
The company plans to build a residential project on this land, which is expected to generate revenue of nearly INR 3,800 crore. In its filing, Godrej highlighted Kukatpally as a strategic location that aligns with Hyderabad's steady real estate growth. Managing Director and CEO Gaurav Pandey noted that the city continues to strengthen its position as a dynamic real estate market.
The deal also reflects how land values in Kukatpally have risen sharply. In recent weeks, commercial land in the same area was auctioned at lower rates, while this residential parcel fetched almost INR 70 crore per acre?well above the base price of INR 40 crore per acre. The higher valuation points to increasing demand for residential projects in the locality, which benefits from strong connectivity and proximity to employment hubs like HITEC City.
Godrej has been expanding its presence in Hyderabad over the past year, with launches such as Godrej Madison Avenue at Kokapet and Godrej Regal Pavilion at Rajendranagar. The latest acquisition adds another large development to its portfolio in the city, further strengthening its position in a market that continues to attract both homebuyers and developers.
Source PTI
5th Jun, 2025
25th May, 2023
11th May, 2023
27th Apr, 2023
Advertisement
Facebook
Whatsapp
