Hinduja Group’s GOCL Strikes Joint Venture Deal in Hyderabad with Squarespace Builders

Hinduja Group’s GOCL Strikes Joint Venture Deal in Hyderabad with Squarespace Builders

The Hinduja Group’s GOCL Corporation Limited (GOCL) has signed a joint development agreement with Hyderabad-based Squarespace Builders. This deal involves the strategic monetization of a prime 264.5-acre land parcel located in Kukatpally, Hyderabad. The project is expected to generate over Rs 3,402 crore for GOCL, which will be used to fuel future growth initiatives.

The agreement includes two key aspects:

• Land Monetization: Squarespace Builders will acquire a majority of the land (around 264.5 acres) for a total of Rs 3,402 crore.
• Joint Development: GOCL will do Joint Venture with Hinduja Healthcare (formerly Hinduja Estates) for the development of a separate 32-acre portion of the land under a Joint Development Agreement (JDA). This project is expected to be completed within 18 months.

To expedite the process, GOCL has already initiated the sale of 12.5 acres from the 32-acre JDA section. The first tranche will bring in Rs 520 crore, with Rs 160 crore being the upfront payment for the land. The remaining balance will be disbursed in phases as the project progresses.

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