India, June 8 -- Chennai-based real estate firm G Square Group has acquired a 714-acre project from Rakindo's Kovai Hills project located in Coimbatore for Rs.707 crore and will develop it as an integrated township, the company 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.

The remaining 308 acres are designated for joint ventures with villa and apartment developers, as well as built-to-suit IT infrastructure projects, including commercial leasing and business parks, malls, and multiplexes, it said.

The township is located in Kovaipudhur near Madukkarai, along the Western Ghats and close to the Palakkad Gap. Spread across areas lik...