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.

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"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.

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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.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)