Godrej Properties emerges as highest bidder for prime land parcels in Better Noida

Godrej Properties has emerged as the very best bidder for 2 land parcels with a complete mixed bid worth of ₹842 crore in an e-auction performed by the Better Noida Industrial Growth Authority (GNIDA) for Residential Group Housing Plots.

GNIDA will challenge the allotment letters after following the due course of, Godrej Properties mentioned in a press release.

The land parcels, unfold over 9.5 acres in Sector Sigma—III and eight acres in Sector 12, are strategically situated in one of the vital prime places in Better Noida. Collectively, they’ll provide a improvement potential of three.75 million sq. toes and an estimated income potential of over ₹5,000 crore, comprising premium residential flats of various configurations.

It mentioned that with its infrastructure, broad roads, and proximity to Delhi and Noida, Better Noida provides a high-quality life-style and good connectivity to Jewar Airport.

In FY23, GPL bagged two parcels of 6.2 acres every in sector 146, Noida. The primary venture, Godrej Tropical Isle, was launched efficiently with a reserving worth of over ₹2,050 crore and proved to be the biggest-ever launch of GPL on the time. The response to Tropical Isle led to the launch of the second venture, Godrej Jardinia, inside 3 quarters, which was bought out at launch in Q1 of the present fiscal, with a reserving worth of ₹2,375 crore. The tasks bought over ₹4,400 crore throughout simply three quarters.

“Now we have witnessed robust demand for our tasks in NCR market demonstrating enormous belief and confidence which the shoppers have positioned in us,” Godrej Properties MD & CEO Gaurav Pandey mentioned. “I’m very assured that these two new acquisitions will additional strengthen our improvement portfolio in NCR in addition to cater to robust demand for our merchandise on this market.”