New Delhi, Real estate firm Godrej Properties has won the bid for two residential plots in Gurugram costing Rs 515 crore and will develop luxury homes worth Rs 3,400 crore on these land plots.
In a regulatory filing on Monday, Godrej Properties informed that it "emerged as the highest bidder and obtained letter of intent to develop two group housing plots at premium locations in Gurugram through e-auction conducted by Haryana Shehri Vikas Pradhikaran (HSVP) ".
The combined bid value for both plots is Rs 515 crore, he added.
The 3.6 acre land is located in the prestigious Golf Course Road micro market while the 1.97 acre land is strategically located in Sector 39 with proximity to NH 48.
"The land parcels together will offer a development potential of over 1 million sq ft and an estimated revenue potential of over Rs 3,400 crore comprising luxury residential apartments of various configurations," Godrej Properties said.
In the last fiscal year, Godrej Properties Ltd had purchased two prime plots of 5.15 acres and 2.76 acres in Golf Course Road micro market from HSVP in an auction and plans to launch both the projects during this fiscal year.
The company also won auctions for two plots of land in Greater Noida in the current quarter.
These four plots in Greater Noida and Gurugram will strengthen the company's Delhi-NCR portfolio, with a total estimated revenue potential of over $1 billion.
Gaurav Pandey, MD & CEO, Godrej Properties, said, "We have witnessed strong demand for our projects in the NCR market, which shows the tremendous trust that clients have reposed in us. I am very confident that These two new acquisitions will further strengthen our development portfolio in NCR and meet the strong demand for our products in this market."
Godrej Properties is one of the leading real estate developers in the country.
It became the largest player in the last fiscal year in terms of sales bookings. The company sold properties worth Rs 22,500 crore in 2023-24 and has set a target of Rs 27,500 crore for the current financial year.
In the first quarter of this fiscal year too, Godrej Properties maintained its number one position in sales bookings by selling properties worth Rs 8,637 crore.
Godrej Properties focuses on Delhi-NCR, Mumbai Metropolitan Region, Pune, Bengaluru and Hyderabad markets for group housing projects. It is also planning developments in smaller cities.
In a regulatory filing on Monday, Godrej Properties informed that it "emerged as the highest bidder and obtained letter of intent to develop two group housing plots at premium locations in Gurugram through e-auction conducted by Haryana Shehri Vikas Pradhikaran (HSVP) ".
The combined bid value for both plots is Rs 515 crore, he added.
The 3.6 acre land is located in the prestigious Golf Course Road micro market while the 1.97 acre land is strategically located in Sector 39 with proximity to NH 48.
"The land parcels together will offer a development potential of over 1 million sq ft and an estimated revenue potential of over Rs 3,400 crore comprising luxury residential apartments of various configurations," Godrej Properties said.
In the last fiscal year, Godrej Properties Ltd had purchased two prime plots of 5.15 acres and 2.76 acres in Golf Course Road micro market from HSVP in an auction and plans to launch both the projects during this fiscal year.
The company also won auctions for two plots of land in Greater Noida in the current quarter.
These four plots in Greater Noida and Gurugram will strengthen the company's Delhi-NCR portfolio, with a total estimated revenue potential of over $1 billion.
Gaurav Pandey, MD & CEO, Godrej Properties, said, "We have witnessed strong demand for our projects in the NCR market, which shows the tremendous trust that clients have reposed in us. I am very confident that These two new acquisitions will further strengthen our development portfolio in NCR and meet the strong demand for our products in this market."
Godrej Properties is one of the leading real estate developers in the country.
It became the largest player in the last fiscal year in terms of sales bookings. The company sold properties worth Rs 22,500 crore in 2023-24 and has set a target of Rs 27,500 crore for the current financial year.
In the first quarter of this fiscal year too, Godrej Properties maintained its number one position in sales bookings by selling properties worth Rs 8,637 crore.
Godrej Properties focuses on Delhi-NCR, Mumbai Metropolitan Region, Pune, Bengaluru and Hyderabad markets for group housing projects. It is also planning developments in smaller cities.
