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.
