In a significant move in the Indian real estate market, Chennai-based G Square Group has announced the acquisition of a 714-acre township project in Coimbatore from Rakindo’s Kovai Hills project for ₹707 crore. This ambitious development, now rebranded as G Square Seven Hills, aims to transform the area into an integrated township featuring both residential and commercial spaces. Located in the rapidly growing city of Coimbatore, this project is poised to cater to the region’s evolving real estate demands while offering expansive views of the Western Ghats and Coimbatore city.
G Square Seven Hills: Project Overview
G Square Group’s acquisition of the Kovai Hills project marks a major expansion in its portfolio. The newly acquired 714-acre land is set to be developed as an integrated township. Here’s a breakdown of the key features and phases of the project:
Phase 1: Premium Residential Plots
The first phase of the project covers 406 acres and will feature 3,127 premium residential plots. These plots are designed to attract investors and homebuyers who are looking for high-quality living spaces in a natural, scenic environment.
Remaining Land: Joint Ventures and Commercial Infrastructure
The remaining 308 acres will be designated for joint ventures with developers in sectors such as villas and apartments. In addition, the site will host built-to-suit IT infrastructure projects, including commercial leasing options, business parks, malls, and multiplexes.
Strategic Location and Natural Features
Located in Kovaipudhur near Madukkarai, the township offers unique geographical advantages. The area, along the Western Ghats and close to the Palakkad Gap, is naturally elevated, offering spectacular views of Coimbatore city. The project spans multiple localities such as Perur, Chettipalayam, Sundakkamuthur, and Theethipalayam, making it a highly accessible and attractive investment opportunity.
The Vision for G Square Seven Hills
According to Bala Ramajeyam, Founder and Managing Director of G Square Group, “Coimbatore’s rapid growth and investor confidence make it the perfect market for our business plans. We are committed to strategic expansion and look forward to the next phase of growth for this project. G Square is also open to larger JV partners to participate in developing commercial and residential developments within this 714-acre township.”
This strategic expansion aligns with the company’s vision to tap into Coimbatore’s growing real estate market, which has seen an uptick in demand for both residential and commercial properties.
Key Highlights: G Square Seven Hills
| Feature | Details |
|---|---|
| Location | Kovaipudhur, Coimbatore, Tamil Nadu |
| Total Area | 714 acres |
| Phase 1 | 406 acres with 3,127 residential plots |
| Remaining Land | 308 acres for joint ventures, IT infrastructure, and commercial spaces |
| Key Developments | Villas, apartments, business parks, malls, multiplexes |
| Target Market | Premium residential and commercial spaces |
| Proximity | Western Ghats, Palakkad Gap, Coimbatore city |
| Developer | G Square Group |
| Investment | ₹707 crore |
Official Statements
Bala Ramajeyam, the founder and managing director of G Square Group, expressed confidence in the future of Coimbatore’s real estate market. He remarked, “This project is not just an acquisition; it represents a significant growth opportunity. We see immense potential in Coimbatore, which has become one of the key growth hubs in Tamil Nadu, attracting investors from all over.”
FAQ Section
1. What is G Square Group’s latest acquisition in Coimbatore?
G Square Group has acquired the 714-acre Kovai Hills project in Coimbatore for ₹707 crore. This project is now rebranded as G Square Seven Hills and will be developed as an integrated township.
2. What are the features of Phase 1 of the G Square Seven Hills project?
Phase 1 will cover 406 acres and will feature 3,127 premium residential plots.
3. What will the remaining 308 acres be used for?
The remaining land will be developed for joint ventures with villa and apartment developers, as well as built-to-suit IT infrastructure, commercial leasing, business parks, malls, and multiplexes.
4. Why is Coimbatore considered a good market for real estate investment?
Coimbatore is witnessing rapid growth, and investor confidence in the city is rising, making it an ideal location for real estate development.
5. What is the strategic vision for G Square Seven Hills?
The project aims to cater to the growing demand for both residential and commercial spaces in Coimbatore, with opportunities for joint ventures and partnerships with other developers.