G Square Group, a Chennai-based real estate group, has acquired a 714 Acres project from Rakindo for about 1,000 INR-Crore in Coimbatore. Phase I of ‘G Square Seven Hills’, previously known as the Kovai Hills project, spans 406 Acres.
Meanwhile, the project’s first phase features 3,127 DTCP and RERA-approved premium plots. The remaining 308 Acres are allocated for joint ventures with premier villa and apartment developers, custom-built IT infrastructure projects, commercial leasing, business parks, shopping malls, and multiplexes.
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This project has a wide panoramic view of Coimbatore and is meant to establish G Square group as an important player in the plotted development space. Out of the total space, nearly 400 Acres will be for plot development. The rest will be a mix of development, such as residential and commercial. This is the latest event in the transformation of Coimbatore into a real estate hub.
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