G Square Acquires 714-Acre Coimbatore Project

New Delhi, Jun 7 (PTI) Realty firm G Square Group has acquired 714-acre project from Rakindo in Coimbatore for Rs 707 crore and will develop it as an integrated township.

In a statement on Saturday, the company announced launch of 'G Square Seven Hill', a township project that combines plots and mixed-use development.

"The acquisition of the 714-acre project from Rakindo for Rs 707 crore, marked the latest in a series of major investments transforming Coimbatore into a premier real estate destination," it said.

The Kovai Hills project, now rebranded as G Square Seven Hills, spans 714 acres with Phase 1 covering 406 acres and featuring 3,127 premium plots.

The remaining 308 acres are designated for joint ventures with signature villa and apartment developers, built-to-suit IT infrastructure projects, including commercial leasing and business parks, malls, and multiplexes.

Bala Ramajeyam, Founder and Managing Director of G Square Group, said this township project "demonstrates our commitment to unlocking growth and development in a city with immense potential and strong demand for plots"

"G Square is also open to larger JV partners to participate in developing commercial and residential developments within this 714-acre township," he added.

G Square is one of the leading developers in south India.