New Delhi: Godrej Properties Ltd has won a bid to acquire 7.82-acre land in Hyderabad for nearly Rs 550 crore.In a regulatory filing on Thursday, the company said it has participated in an e-auction conducted by the Telangana Housing Board (TGHB).Godrej Properties has "emerged as the highest bidder for 7.825 acre land parcel in Kukatpally (KPHB), Hyderabad, with a total combined bid value of Rs 547.75 crore".
The housing board would issue the allotment letter after following the due process.Godrej Properties will develop a housing project on this land parcel.The estimated revenue potential of this project would be Rs 3,800 crore.
Gaurav Pandey, MD & CEO, Godrej Properties, said, "As Hyderabad continues to strengthen its position as a dynamic real estate market, Kukatpally represents a strategic location that aligns with the city's growth trajectory." Godrej Properties is one of the leading real estate developers in the country.
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