Godrej & Sobha Dominate Greater Noida Land Auction
Godrej Properties and Sobha Ltd have made significant strides in the Greater Noida real estate market by securing prime land parcels in a recent auction conducted by the Greater Noida Authority. The Greater Noida land auction, which featured five land parcels valued at Rs 738 crore, successfully sold for Rs 1,500 crore, underscoring the robust demand in the region. Godrej & Sobha Dominate Greater Noida Land Auction with strategic acquisitions that highlight their aggressive expansion plans.
Godrej Properties’ Strategic Acquisitions
Godrej Properties, headquartered in Mumbai, secured the top bids for two significant plots. The company acquired a 38,771 square meter plot for Rs 400 crore and a 32,350 square meter plot for Rs 442 crore. These acquisitions align with Godrej’s aggressive expansion strategy in the National Capital Region (NCR). The company has seen a remarkable 473% increase in sales in Gurugram for FY24 and has an ambitious launch pipeline for FY25, including projects in Sectors 103, 43, and 54. Significantly, Godrej Properties recently reached a milestone by selling 650 homes valued at over Rs 2,000 crore in its Godrej Jardinia project in Sector 146, Noida, making it their most successful launch in Noida to date.
Sobha Ltd’s Entry into Noida
Bengaluru-based Sobha Ltd secured a 13,938 square meter plot for Rs 161 crore, marking its first foray into the Noida market. Sobha has also entered into a joint development agreement with a Gurugram-based landowner for a 12-acre residential project in Sector 63A, adding to its existing projects in Gurugram. This new venture near the Golf Course Extension will be Sobha’s third project in the area, highlighting its commitment to expanding its footprint in the NCR.
Other Key Players
In addition to Godrej and Sobha, Prasu Infrabuild and Ashtech Industries also emerged as top bidders. Prasu Infrabuild acquired a 28,265 square meter plot for Rs 201 crore, while Ashtech Industries secured a 22,558 square meter plot for Rs 294 crore.
Market Outlook
The aggressive bidding by these leading developers reflects the immense potential of the Noida and Greater Noida real estate markets. According to Sachin Arora, founder of Moneytree Realty, these projects are poised to further enhance the region’s real estate landscape, which is already witnessing increased demand from both investors and end-users.
Overall, the successful Greater Noida Land Auction and subsequent acquisitions by major developers like Godrej Properties and Sobha Ltd underscore the growing appeal of the Greater Noida region as a prime real estate destination.
Read more: UP-RERA Takes Action Against Delayed Possession by Promoters
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