Business Update2 Sept 2024, 01:27 pm
Godrej Properties Secures Two Luxury Group Housing Plots in Gurugram with INR 3,400 Crore Revenue Potential
AI Summary
Godrej Properties Ltd. (GPL), one of India’s leading real estate developers, has emerged as the highest bidder and secured the Letter of Intent to develop two group housing plots at premium locations in Gurugram through an e-auction conducted by the Haryana Shehri Vikas Pradhikaran (HSVP). The combined bid value for both the plots is INR 515 crore. The land parcels together will offer a development potential of over 1 million square feet and an estimated revenue potential of over INR 3,400 crore comprising luxury residential apartments of varied configurations.
Key Highlights
- GPL secured two group housing plots in Gurugram through an e-auction conducted by HSVP.
- The combined bid value for both the plots is INR 515 crore.
- The land parcels together will offer a development potential of over 1 million square feet.
- The estimated revenue potential of the projects is over INR 3,400 crore.
- These acquisitions will strengthen GPL's development portfolio in NCR and cater to strong demand for its products in this market.