Godrej Properties has forayed into the thriving Hyderabadreal estate market by announcing the launch of its maiden residential project Godrej Madison Avenue at Kokapet, which is a hub for a number of multinational companies.

The three-acre, 50-storeyed building would become the company’s tallest residential tower in the South.

“The project has an estimated booking value of about ₹1,300 crore. It will have about 1.2 million square feet of saleable area, offering premium residential apartments in 3 & 4 BHK configurations,” a company statement said here on Monday.

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“This project brings to life Manhattan-inspired architecture and design, catering to the evolving preferences of homebuyers seeking sustainable, wellness-driven living spaces in high-potential locations,” it said.

“Kokapet’s strategic location and infrastructure advantages make it an ideal destination for premium residential developments,” Gaurav Pandey, Managing Director and Chief Executive Officer of Godrej Properties, said.

In a recent report, property consultancy firm Knight Frank said the residential market of Hyderabad recorded a healthy 12% year-on-year growth in the number of units sold (36,974 units) in 2024.

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“The city witnessed an all-time high sale in 2024 owing to strong economic fundamentals and infrastructural advancements combined with shifting buyer preferences towards aspirational lifestyle,” it said.

However, the residential launches saw a 6 percent year-on-year decline in the recorded supply of 44,013 units in 2024. Residential prices grew by an average of 8 per cent year-on-year during 2024, reflecting the city’s sustained appeal among both investors and end-users, it said.