Godrej Properties Expands Presence in Gurugram with Two New Land Acquisitions
Godrej Properties has purchased two group housing land parcels in Gurugram through an e-auction for a combined Rs 515 crore, with an estimated revenue potential of over Rs 3,400 crore.
Godrej PropertiesGurugramReal EstateNcrLand AcquisitionReal Estate MumbaiSep 02, 2024
The two plots are strategically located in the tony Golf Course Road micro-market and Sector 39, close to the Delhi-Jaipur highway. The first plot measures 3.6 acres, while the second land parcel measures 1.97 acres.
This acquisition is expected to further strengthen Godrej Properties' development portfolio in NCR and cater to the strong demand for its products in this market. The company plans to build outstanding residential communities that create long-term value for its residents.
In FY24, Godrej Properties bought two group housing parcels measuring 5.15 acres and 2.76 acres on the Golf Course Road from HSVP and plans to launch these projects in the current financial year.
Godrej Properties has also won bids for two land parcels in Greater Noida this quarter, which combined with these two additions in Gurugram, has allowed the developer to strengthen its NCR portfolio with four projects with a total estimated revenue potential in excess of $1 billion.
Information
Godrej Properties is a leading real estate developer in India, with a strong presence in the NCR region. The company has a proven track record of delivering high-quality residential projects that meet the needs of its customers.Godrej Properties is a subsidiary of the Godrej Group, a diversified Indian conglomerate with interests in real estate, consumer goods, and industrial engineering.
Frequently Asked Questions
What is the total cost of the two land parcels acquired by Godrej Properties in Gurugram?
The combined cost of the two land parcels is Rs 515 crore.
What is the estimated revenue potential of the two land parcels?
The estimated revenue potential of the two land parcels is over Rs 3,400 crore.
Where are the two land parcels located?
The two plots are strategically located in the tony Golf Course Road micro-market and Sector 39, close to the Delhi-Jaipur highway.
What is the development potential of the two land parcels?
The two plots offer a development potential of over 1 million square feet.
What is Godrej Properties' plan for the two land parcels?
The company plans to build outstanding residential communities that create long-term value for its residents.
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