Godrej Properties Secures Prime Housing Plots in Gurugram

Godrej Properties (GPL) has emerged as the highest bidder for two premium group housing plots in Gurugram, securing the letter of intent (LoI) to develop these prime locations. The first plot, spanning 3.6 acres, is situated in the prestigious Golf Course Road area, while the second, covering 1.97 acres, is located in Sector-39, near NH-48, ensuring excellent connectivity.

These land parcels collectively offer a development potential exceeding one million square feet. GPL plans to build luxury residential apartments on these sites, catering to diverse preferences with various configurations. The estimated revenue potential from these developments is projected to be over Rs 3,400 crore, reflecting the high demand for premium housing in these sought-after locations.

This latest acquisition adds to GPL’s impressive portfolio, which includes the purchase of two prime plots from Haryana Shehri Vikas Pradhikaran (HSVP) earlier in FY24. These parcels, measuring 5.15 acres and 2.76 acres, were acquired through an e-auction, and the company plans to launch both projects in FY25.

Additionally, GPL has been actively expanding its land bank, having secured two more parcels in Greater Noida during the current quarter. This continued investment in strategic locations underscores GPL's commitment to enhancing its presence in key markets.

With these acquisitions, Godrej Properties is poised to deliver high-quality, luxury residential projects, reinforcing its position as a leading player in India’s real estate sector.

News by Rahul Yelligetti