Lodha Group bags 13 acres in Hyderabad for Rs 225 cr
The Mumbai-based real estate developer Lodha Group has entered the Hyderabad real estate market by acquiring 12.9 acres of land for Rs 225.4 crore.
By TNN |
MUMBAI: The Mumbai-based real estate developer Lodha Group has entered the Hyderabad real estate market by acquiring 12.9 acres of land for Rs 225.4 crore. The group will develop a high-end residential and commercial complex in Hyderabad in about three million sq ft, according to company officials.
The company had bagged the 12.9-acre land located at Eden Square, Kukatpally Housing Board Colony, for Rs 255.42 crore in an auction by Andhra Pradesh Housing Board. “Much like Mumbai, real estate in Hyderabad is booming and we look forward to tap the existing market opportunity,” Lodha Group director Abhishek Lodha said.
The group is also in the process of acquiring more land in Hyderabad besides Pune, he added. With over 25 projects in various stages of completion in and around Mumbai, the group is now spreading its wings to other rapidly developing metros in southern and western India.
The company had bagged the 12.9-acre land located at Eden Square, Kukatpally Housing Board Colony, for Rs 255.42 crore in an auction by Andhra Pradesh Housing Board. “Much like Mumbai, real estate in Hyderabad is booming and we look forward to tap the existing market opportunity,” Lodha Group director Abhishek Lodha said.
The group is also in the process of acquiring more land in Hyderabad besides Pune, he added. With over 25 projects in various stages of completion in and around Mumbai, the group is now spreading its wings to other rapidly developing metros in southern and western India.
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