Gurugram : Godrej Properties Purchase Two Group Housing Plots For Rs 515 Crore

                Godrej Properties(GPL), a leading real estate 
developer, has emerged as the highest bidder 
in an e-auction conducted by the Haryana 
Shehri Vikas Pradhikaran (HSVP) to secure two 
prime land parcels in Gurugram. The combined 
bid value for both the plots is Rs 515 crore.
Details of the Acquisition:
•	Combined Bid Value: The total bid value 
for both plots is Rs 515 crore.
•	Location: One plot is located in the 
prestigious Golf Course Road micro-market, 
measuring 3.6 acres. The other plot, measuring 
1.97 acres, is strategically located in Sector 39 
with proximity to NH 48.
•	Development Potential:Together, the land 
parcels offer a development potential of over 1 
million square feet and an estimated revenue 
potential of over Rs 3,400 crore.
•	Residential Projects: GPL plans to develop 
luxury residential apartments of varied 
configurations on these plots.

Strengthening NCR Portfolio:
•	In FY24, GPL bought two prime parcels of 
5.15 acres and 2.76 acres in Golf Course Road 
micro-market from HSVP at auction and plans 
to launch both these projects in FY 25.
•	In FY24, the company also won auctions 
for two land parcels in Greater Noida. 
•	With these new additions, GPL now has a 
strong portfolio of four projects in NCR with an 
estimated revenue potential exceeding $ 1 
billion.
 “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," said Gaurav Pandey, 
MD & CEO, Godrej Properties.
Properties worth approximately Rs 35,000 
crore were sold together by major listed real 
estate developers during the April-June quarter 
of the financial year 2024-25, and Godrej 
Properties reported highest sale bookings 
followed by DLF.
Data from regulatory filings show Godrej 
Properties witnessed pre-sales of Rs 8,637 
crore in the April-June quarter while Delhi NCR-
based DLF Ltd reported more than three-fold 
jump 
in its sale bookings at Rs 6,404 crore during 
the same period.
The growth  was mainly driven by luxury 
housing. 
Earlier this year, Godrej Properties sold over 
1,050 homes worth over Rs 3,000 crore within 
three days of launch of its  project at 
Gurugram, in Haryana. The project 'Godrej 
Zenith' is 
located in Sector 89, Gurugram. This is the 
second time in Gurugram, and the fourth time 
pan India, that GPL has recorded sales of over 
Rs 2,000 crore during launch in 2023-24 
fiscal.
The company sold inventory worth Rs 2,690 
crore in its project, Godrej Reserve, located in 
Kandivali, Mumbai in Q4 FY24.


Source : Business Standard