Up next
Tags

High-Value Acquisition

Mumbai, September 02, 2024: Godrej Properties Ltd. (GPL) has emerged as the highest bidder for two luxury group housing plots in Gurugram through an e-auction conducted by the Haryana Shehri Vikas Pradhikaran (HSVP). The combined bid value for the plots is INR 515 crore.

Plot Details

The plots include a 3.6-acre parcel in the Golf Course Road area and a 1.97-acre plot in Sector 39 near NH 48. Together, these plots offer development potential for over 1 million square feet of luxury residential space, with an estimated revenue potential exceeding INR 3,400 crore.

Also Read: Godrej & Boyce and Godrej Properties to continue their association for land development in Vikhroli

Strategic Expansion

In FY24, GPL acquired additional prime parcels in Golf Course Road and Greater Noida, enhancing its NCR portfolio. The new acquisitions will strengthen GPL’s presence in the region, with a combined revenue potential of over USD 1 billion from four major projects.

Future Plans

Gaurav Pandey, MD & CEO of Godrej Properties, expressed confidence in the new acquisitions, highlighting the strong demand for their projects in the NCR market. He emphasized that these developments will contribute to the company’s growth and provide high-value residential communities.

SHARE ON
TwitterWhatsappFacebookBufferLinkedInPin It
You May Also Like
ITAT Mumbai has dismissed the tax department's claim of black money against F A Construction, holding that large cash withdrawals were legitimately used to pay daily-wage labourers at remote construction sites. The Tribunal quashed additions of over ₹35 crore under Section 69A, emphasizing documented bank sources and no adverse findings in remand — proving once again that cash-heavy sectors like construction often face initial suspicion that clears with proper evidence.

Taxman Says Builder Had Black Money, Turns Out He Was Paying Labourers in Cash

ITAT Mumbai has dismissed the tax department’s claim of black money against F A Construction, holding that large cash withdrawals were legitimately used to pay daily-wage labourers at remote construction sites. The Tribunal quashed additions of over ₹35 crore under Section 69A, emphasizing documented bank sources and no adverse findings in remand — proving once again that cash-heavy sectors like construction often face initial suspicion that clears with proper evidence.
CREDAI-MCHI unveiled Ease of Doing Business 2.0, a revamped framework aimed at streamlining construction approvals, enabling time-bound decisions, and improving transparency across regulatory bodies.

CREDAI-MCHI Pushes Unified Reform Agenda, Speeds Up Approval Processes

CREDAI-MCHI’s 43rd AGM outlined a unified reform roadmap under President Sukhraj Nahar, strengthening coordination with government bodies, launching Ease of Doing Business 2.0, and institutionalising review mechanisms to fast-track approvals and improve transparency across Mumbai’s real estate ecosystem.
Piramal Club Rasa

Piramal Realty Unveils Phase One of Clubhouse at Piramal Revanta in Mulund

Piramal Realty, the real estate division of Piramal Group, has officially inaugurated…
Real estate stocks opened on a cautious note as Indian markets showed early signs of consolidation. While select developers like DLF and Phoenix Mills saw buying interest, others such as Godrej Properties and Lodha Developers remained under pressure, pointing to a volatile and range-bound trading session ahead.

Realty Stocks Open Mixed as Dalal Street Trades Cautiously; Select Developers See Early Buying

Real estate stocks opened mixed after Indian markets began trading cautiously on March 12. While developers like DLF and Godrej Properties saw early buying interest, others such as Lodha Developers and Phoenix Mills traded lower, indicating a volatile session ahead for the sector.