G Square acquires Rakindo’s Kovai Hills project for ₹707 crore; announces mega township project in Coimbatore
(L-R) – Siva Kumar P Global Business Head and Bala Ramajeyam, Founder and Managing Director of G Square Group during the announcement of G Square Seven Hills city.
G Square Group, the Chennai-based real estate developer, has acquired 714- acre project from Rakindo for ₹707 crore in Coimbatore, and announces the launch of G Square Seven Hills, an expansive township project. The acquisition marks the latest in a series of major investments transforming Coimbatore into a premier real estate destination, says a release.
The Kovai Hills project, now rebranded as 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. This project is set to enable G Square to consolidate its position as an expanding player in the plotted development space and identify newer avenues for business growth, the release said.
Strategically positioned along the Western Ghats adjacent to the Palakkad Gap in Kovaipudhur near Madukkarai, this 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, the release said.
Bala Ramajeyam, Founder and Managing Director of G Square Group, said, as an expanding player in real estate, the company’s 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.
Plot development
Ramajeyam told businessline that out of the total space, about 400 acres will be for plot development and the rest will be a mix of development like residential and commercial. The pre-launch offer price is ₹12.9 lakh per cent. The minimum cent offered is 1.5 cent and the maximum being 40 cent.
The company said that this development comes after other recent investments in the region, such as Astrea Real Estate Developers’ (a Phoenix Mills subsidiary) purchase of 9.03 acres 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 development is ideally 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.
Published on June 7, 2025
