Godrej Properties Land Acquisition in Gurugram for Rs 515 Cr
Godrej Properties (GPL) has emerged as a prominent player in the real estate sector by securing the highest bid for two significant group housing plots in Gurugram. This Godrej Properties land acquisition was secured through an e-auction organized by the Haryana Shehri Vikas Pradhikaran (HSVP), with a total bid amounting to Rs 515 crore. The first plot, spanning 3.6 acres, is strategically located on the prestigious Golf Course Road, known for its upscale developments and prime real estate. The second plot, measuring 1.97 acres, is situated in Sector 39, a rapidly developing area with immense growth potential.
These land parcels collectively offer a development potential of over 1 million square feet, presenting GPL with a substantial opportunity to expand its residential offerings. The estimated revenue potential from these projects exceeds Rs 3,400 crore, highlighting the lucrative nature of this investment.
In the fiscal year 2024, GPL demonstrated its strategic foresight by acquiring two additional prime land parcels on Golf Course Road, measuring 5.15 acres and 2.76 acres, through an HSVP auction. The company plans to launch projects on these sites in the fiscal year 2025, aligning with its growth strategy to capitalize on high-demand locations.
Furthermore, GPL’s expansion efforts extend beyond Gurugram, as the company has also successfully won auctions for two land parcels in Greater Noida during the current quarter. This move underscores GPL’s commitment to strengthening its presence in key real estate markets and enhancing its portfolio with high-potential development projects. Through this strategic Godrej Properties land acquisition, Godrej Properties continues to solidify its position as a leading developer in India’s real estate landscape.
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