Representative image (Image source: iStockphoto)
New Delhi: Godrej Properties Ltd.On September 2, GPL announced that it has won the bid for two premium group housing plots in Gurugram, worth Rs 515 crore. The company will build luxury apartments on these sites, with a total projected value of Rs 3,400 crore.
The land, acquired through an electronic auction by the Haryana Shehri Vikas Pradhikaran (HSVP), includes a 3.6-acre plot on Golf Course Road and a 1.97-acre plot in Sector 39 near NH 48. Together, these plots will enable GPL to construct over 1 million square feet of residential space.
This acquisition adds to GPL’s recent acquisitions, including two prime sites on Golf Course Road and land in Greater Noida, significantly adding to its NCR portfolio. Total estimated revenues from these projects now exceed $1 billion.
Regarding acquisitions, Gaurav Pandey, Managing Director and CEO of Godrej PropertiesHe commented: “We have witnessed strong demand for our projects in the NCR market, which demonstrates the trust that clients have placed in us. These two new acquisitions will further strengthen our development pipeline in NCR and cater to the strong demand for our products in this market. Our focus will be on building exceptional residential communities that create long-term value for residents.”
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