 "Godrej Properties Secures Prime Land in Gurugram for Luxury Home Development")
Godrej Properties has successfully bid for two prime residential plots in Gurugram for Rs 515 crore, planning to develop luxury homes worth Rs 3,400 crore on these sites. The company secured the plots through an e-auction conducted by Haryana Shehri Vikas Pradhikaran (HSVP), with one located in the sought-after Golf Course Road area and the other in Sector 39. Together, these plots will allow the development of over 1 million square feet of luxury residential space. Godrej Properties is also expanding its footprint in the Delhi-NCR region, having recently acquired additional land in Greater Noida. The firm continues to lead the Market, with significant sales bookings and ambitious targets for growth in the current fiscal year.
Godrej Properties Secures Prime Land Parcels in Gurugram for Luxury Development
In an exciting move reflecting its growth strategy, Godrej Properties has won the bid for two prestigious residential plots in Gurugram, valued at Rs 515 crore. This significant acquisition aims to develop luxury homes with an estimated value of Rs 3,400 crore.
The company announced through a regulatory filing that it emerged as the highest bidder in an e-auction conducted by the Haryana Shehri Vikas Pradhikaran (HSVP). The larger of the two plots spans 3.6 acres in the prominent Golf Course Road area, while the other, measuring 1.97 acres, is conveniently located in Sector 39, close to NH 48. Together, these sites offer a total development potential of over 1 million square feet, set to feature luxury residential apartments in various configurations.
Godrej Properties has been actively bolstering its portfolio in the Delhi-NCR region. Last fiscal, the company procured two other prime plots adding up to 7.91 acres in the Golf Course Road area, with plans to launch these projects soon. Additionally, it has secured two other land parcels in Greater Noida this quarter, enhancing its presence in the competitive Market.
The company’s Managing Director and CEO, Gaurav Pandey, expressed confidence in meeting the strong demand for luxury residences in the NCR Market, highlighting the trust that customers place in Godrej Properties. With these latest additions, the company aims to strengthen its development initiatives further and cater to the growing Market demand.
In previous months, Godrej Properties has established itself as a leader in real estate development, achieving sales bookings worth Rs 22,500 crore in 2023-24 and setting a target of Rs 27,500 crore for the current fiscal year. The firm retained its position as the top seller in sales bookings in the first quarter, recording sales of Rs 8,637 crore.
With its focus on major urban centers such as Delhi-NCR, Mumbai, Pune, Bengaluru, and Hyderabad, along with developments in smaller cities, Godrej Properties continues to expand its footprint in the real estate sector.
Tags: Godrej Properties, Gurugram, real estate, luxury homes, property development, Haryana, e-auction, NCR Market, residential plots, sales bookings.
What did Godrej Properties win in Gurugram?
Godrej Properties won a bid for two plots of land in Gurugram.
Why is this important for the company?
This is important because it can help the company generate around Rs 3,400 crore in revenue.
What does Godrej Properties plan to do with the plots?
The company plans to develop residential or commercial projects on these plots.
How does this bid affect the real estate Market?
Winning these plots may boost Godrej Properties’ presence in Gurugram and impact the local real estate Market positively.
When do they expect to start developing the plots?
While specific timelines are not mentioned, they will likely begin development plans soon after acquiring the plots.
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