Godrej Properties has emerged as the highest bidder for two luxury group housing plots in Gurugram for Rs 515 crore through an e-auction conducted by the Haryana Shehri Vikas Pradhikaran (HSVP).
The land parcels measuring approximately 3.6 acres, and 2 acres will have a combined revenue potential in excess of Rs 3,400 crore.
The land parcels together will offer a development potential of over 1 million square feet.
In FY24, GPL bought two prime parcels of 5.15 acres and 2.76 acres in Golf Course Road micro-market from HSVP at auction and plans to launch both these projects in FY 25. GPL also won auctions for two land parcels in Greater Noida in the current quarter, which combined with these two new additions In Gurugram, has allowed GPL to greatly strengthen its NCR portfolio with 4 projects with a total estimated revenue potential in excess of USD 1 billion.
“We have witnessed strong demand for our projects in NCR market demonstrating huge trust and confidence which the customers have placed in us. These two new acquisitions will further strengthen our development portfolio in NCR as well as cater to strong demand for our products in this market,” said Gaurav Pandey, MD & CEO, Godrej Properties.
Source : ET
