Godrej acquires premium sites at Gurugram for luxury residential development

Godrej Properties increases its portfolio of luxury home complexes worth ₹3,400 crore in the National Capital Region (NCR) by acquiring two premium sites in Gurugram.

Godrej Properties Ltd. (GPL), a leading real estate developer in India (BSE scrip id: GODREJPROP), secures the Letter of Intent for the  development of two group housing plots at prime locations in Gurugram through an e-auction set up by the Haryana Shehri Vikas Pradhikaran (HSVP), for a cumulative offer amount of ₹515 crore.

While the 1.97-acre plot is strategically located in Sector 39 on NH 48, the 3.6-acre plot is situated in the well-known Golf Course Road micro-market. With luxury residential apartments of various layouts, the property parcels will collectively offer over 1 million square feet of development potential and a revenue of over ₹ 3,400 crore. Both micro-markets are set to provide inhabitants with premium living experience and easy access to major landmarks.

HSVP sold two prime parcels in the Golf Course Road micro-market, measuring 5.15 and 2.76 acres, to GPL at its auction in FY24. GPL plans to start work on both of these projects in FY25. With these two new additions, GPL, which has already secured the bids for two Greater Noida land parcels in the current quarter, is home to four projects in the NCR region. The combined revenue potential is estimated to exceed USD 1 billion.

Gaurav Pandey, MD & CEO, Godrej Properties, says, “We have witnessed strong demand for our projects in NCR market demonstrating huge trust and confidence which the customers have placed in us. I am very confident that these two new acquisitions will further strengthen our development portfolio in NCR as well as cater to strong demand for our products in this market. We will aim to build outstanding residential communities that create long-term value for its residents.”

For more details, visit: https://www.godrejproperties.com/

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