Godrej Properties Wins ₹515 Crore Bid for Two Prime Gurugram Plots, Eyes ₹3,400 Crore Revenue Potential
Godrej Properties secures ₹515 crore bid for two prime Gurugram plots, targeting ₹3,400 crore revenue potential
Real EstateGodrej PropertiesGurugramNcrLand AcquisitionReal Estate MumbaiSep 02, 2024
The two newly acquired plots by the company are located in prime areas in Gurugram. The first plot spans approximately 3.6 acres and is in the upscale Course Road micro-market. The second plot is situated in Sector 39, close to NH 48, covering an approximate area of 1.97 acres.
The overall combined development of these plots is over 1 million square feet, with an estimated revenue potential exceeding ₹3,400 crore.
Godrej Properties has also secured two prime land parcels totaling 7.91 acres in the Golf Course Road area, earlier in this fiscal year. Apart from this, the company also added two land parcels in Greater Noida during the current quarter.
Gaurav Pandey, MD & CEO, Godrej Properties, said, “We have witnessed strong demand for our projects in the NCR market, demonstrating huge trust and confidence which the customers have placed in us. I am very confident that 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. We will aim to build outstanding residential communities that create long-term value for its residents.”
About Godrej Properties
Godrej Properties is a leading real estate developer in India, with a strong presence in the National Capital Region (NCR). The company has a proven track record of delivering high-quality residential and commercial projects.
As of September 2, 2024, the shares of the company opened at 0.25 per cent higher at ₹2,916 apiece. At 12 42 pm IST, the shares of the company were trading down by 0.62 per cent at ₹2,891.25 per share on NSE.
Frequently Asked Questions
What is the total combined bid value for the two plots acquired by Godrej Properties?
The total combined bid value for both plots is ₹515 crore.
Where are the two newly acquired plots by Godrej Properties located?
The first plot is located in the upscale Course Road micro-market, while the second plot is situated in Sector 39, close to NH 48.
What is the estimated revenue potential of the two plots acquired by Godrej Properties?
The estimated revenue potential of the two plots is exceeding ₹3,400 crore.
What is the total area of the two plots acquired by Godrej Properties?
The total area of the two plots is approximately 5.57 acres.
What is the share price of Godrej Properties as of September 2, 2024?
As of September 2, 2024, the shares of the company were trading down by 0.62 per cent at ₹2,891.25 per share on NSE.
Related News Articles
Brookfield Expands India Presence with Strategic Real Estate Investment
Brookfield Asset Management acquires minority stake in Indian developer, bolstering its local real estate portfolio.
Mumbai's Ecological Doom: Salt Pans Make Way for Development
The capture of salt pan lands across Mumbai sets a disastrous precedent for the city's ecological future, prioritizing development over flood protection and climate resilience.
Piramal Capital and Housing Finance Secures $150 Million through Bond Sale
Piramal Capital and Housing Finance has successfully raised $150 million through a bond sale, marking a significant milestone in the company's growth trajectory.
India's Land Transactions Soar 65% in 2024, Driven by Delhi-NCR and Bengaluru
The Indian real estate market witnessed a remarkable surge in land transactions in 2024, with a 65% increase driven by robust demand in residential, office, and emerging sectors like data centers. This growth is particularly notable in the Delhi-NCR and B
PropertyShare Launches Alt: A New Platform for Alternative Investments
PropertyShare, a leading provider of fractional ownership in commercial real estate in India, has launched Alt, a platform offering individual investors access to alternative assets. The platform includes high-yield securitised real estate, private UK war
Why India's Economic Boom is Great News for Luxury Homebuyers and Investors
India's luxury housing market is experiencing unprecedented growth in 2024, driven by economic stability and a surge in demand for high-end properties. From spacious and bespoke homes in Bengaluru to gated communities in Mumbai, the market is booming.