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In just a few weeks after the project’s inception, Godrej Properties says that more than 300 homes in its Kokapet, Hyderabad, project had been sold.
Godrej Properties has sold 0.84 million square feet in terms of volume.
Listed real estate developer Godrej Properties Ltd has said that it had sold homes totalling more than 0.84 million square feet and valued at over Rs 1,000 crore in its first housing project in Hyderabad, which it had started earlier this year.
Godrej Madison Avenue, the project, is situated in the Kokapet neighbourhood. Within a few weeks of its January opening, the firm claimed to have sold over 300 homes. The company has sold 0.84 million square feet in terms of volume.
One of Hyderabad’s most desirable hubs for both business and residential purposes is Kokapet. Additionally, there is easy access to HITEC City, Gachibowli, the financial district, and the Outer Ring Road from this location. Schools, medical facilities, shops, and other lifestyle amenities are all within easy reach of the Golden Mile Road project.
“We are thrilled with the response to our first project in Hyderabad. This success reiterates the huge growth opportunity available to Godrej Properties in Hyderabad and the strong demand for premium residential developments in Kokapet,” Gaurav Pandey, MD and CEO of Godrej Properties, told The Economic Times.
“This success also strengthens our commitment to expanding in Hyderabad, where we will launch a second project shortly,” Pandey added. In Hyderabad, the company will shortly begin work on its second project, as per reports.
Additional deals in southern India
A10-acre plot of land in Yelahanka, north Bengaluru, was acquired by the company in March this year with the intention of building a home project that could generate over Rs 2,500 crore in revenue.
According to the company, the project would offer around 1.5 million square feet of development potential, mostly for high-end residential and retail space.
To build a luxury housing project with an estimatedRs1,200crorein potential revenue, the company purchased an additional 7-acre block of property in Bengaluru last year. This Thanisandra property will be developed into a posh residential complex with first-rate apartments in a range of designs.
One of the top developers of real estate in the country is Godrej Properties.
