G Square Group announces Rs 1,000 crore mega township project in Coimbatore

Business Standard

4 hours ago

G Square Group, a leading South Indian real estate developer, has acquired a 714- acre Kovai Hills project from Rakindo for Rs 1,000 crore, the latest in a series of major investments transforming Coimbatore into a premier real estate destination.
The Kovai Hills project, now rebranded as G Square Seven Hills, is an expansive township project that combines plots and mixed-use development.
This comes after other recent investments in the region, such as Astrea Real Estate Developers' (a Phoenix Mills subsidiary) purchase of 9.03 acre for retail development, L&T's commitment for a world-class IT park and Capgemini's investment creating over 1,500 jobs at Elcot SEZ, the company said.
The G Square Seven Hills spans 714 acres, with Phase 1 covering 406 acres and featuring 3,127 DTCP and Rera-approved 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.
Strategically positioned along the Western Ghats adjacent to the Palakkad Gap in Kovaipudhur near Madukkarai, this naturally elevated township project offers panoramic views of Coimbatore while spanning Perur, Chettipalayam, Sundakkamuthur, and Theethipalayam. Located at the edge of reserve forests, the township benefits from lower ambient temperatures, creating a naturally cooler microclimate with lush greenery that drives strong appreciation potential for early investors, it said.
Bala Ramajeyam, founder and managing director of G Square Group, said, 'We are pleased to announce our mega Seven Hills project in Coimbatore. It demonstrates our commitment to unlocking growth and development in a city with immense potential and strong demand for plots. As an expanding player in real estate, our goal is to offer premium, ready-to-build plots in key locations. Coimbatore's rapid growth and investor confidence make it the perfect market for our business plans."
"We are committed to expanding in a strategic manner and look forward to the next phase of growth of this project. G Square is also open to larger JV partners to participate in developing commercial and residential developments within this 714-acre township," he said.
The development is positioned to attract spiritual tourists and wellness seekers traveling to destinations like Isha Yoga Centre, a popular wellness destination, religious hotspots like Guruvayoor and Sabarimala – the gateway to Kerala. The project is also strategically located along key infrastructural points, such as the Bangalore-Kochi industrial corridor, it said.