Business Update9 Aug 2024, 05:02 pm
Godrej Properties Emerges as Highest Bidder for Two Land Parcels in Greater NOIDA with Estimated Revenue Potential Over INR 5,000 Crore
AI Summary
Godrej Properties Ltd. (GPL), one of India’s leading real estate developers, has emerged as the highest bidder for two land parcels in Greater NOIDA, with a total combined bid value of INR 842 crore. The land parcels, spread over ~ 9.5 acres in Sector Sigma - Ill and ~8 acres in Sector 12, are strategically located and offer a development potential of ~3.75 million square feet. GPL has a strong track record in the NCR market, with successful launches and sales in sectors 146, Noida. The new acquisitions are expected to further strengthen GPL's development portfolio in the NCR market.
Key Highlights
- GPL has emerged as the highest bidder for two land parcels in Greater NOIDA with a total combined bid value of INR 842 crore.
- The land parcels are strategically located in one of the most prime locations in Greater Noida and offer a development potential of ~3.75 million square feet.
- GPL has a strong track record in the NCR market, with successful launches and sales in sectors 146, Noida.
- The new acquisitions are expected to further strengthen GPL's development portfolio in the NCR market.
- The estimated revenue potential of the land parcels is over INR 5,000 crore.