The company announced that it participated in an E-auction carried out by the Telangana Housing Board (TGHB) for residential group for residential group, where the package secured at a total bid value of RS 547.75 Crore, according to the Bodatus intimation issued by MSTC Limited, the E-AAUTTION FACILITATOR.
TGHB will issue the assignment letter after completion of the appropriate process.
This acquisition builds on the success of the recent Hyderabad launches of GPL, including Godrej Madison Avenue in Kokapet and Godrej Regal Pavilion in Rajendranagar. With this new addition, the company has expanded its portfolio in the region, which strengthens its strategy to strengthen the presence in important real estate passages in large cities.
Kukatpally is considered one of the most established and resilient residential corridors of Hyderabad, supported by the proximity of educational institutions, healthcare institutions, shopping centers and commercial hubs. The connectivity with Hitec City, one of the largest employment centers in Hyderabad, also contributes to its residential attraction.
With a strong growth pipeline and the significant income potential from this new project, Godrej shares are expected to stay in the spotlight on the Bourses today. Godrej Properties -shares are 1,65% higher on Wednesday on RS 2,041.10 on the BSE.Also read: Is RS 4 crore enough for pension corus? Gurmeet Chadha gives simple calculation meter
((Indemnification: Recommendations, suggestions, views and opinions of the experts are their own. These do not represent the views of economic times)
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