With an estimated income potential of Rs 1,300 crore, real estate company Godrej Properties Ltd announced on Thursday that it has purchased approximately three acres of property in Hyderabad to create a home project.
Godrej Properties entered the Hyderabad real estate market last month when it paid Rs 350 crore for a 12.5-acre plot of land to build a housing project with a potential income of Rs 3,500 crore.
The company stated that this is the second land acquisition in Hyderabad in a regulatory filing.
This land has around 1.2 million (12 lakh) square feet of overall development potential, mostly in the form of upscale residential flats. With this next new project, the corporation hopes to make about Rs 1,300 crore in income.
