In a regulatory submitting on Monday, Godrej Properties knowledgeable that it has “emerged as the best bidder and has secured the Letter of Intent to develop two group housing plots at premium places in Gurugram via an e-auction carried out by the Haryana Shehri Vikas Pradhikaran (HSVP)”.
The mixed bid worth for each plots is ₹515 crore, it added.
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The plot measuring 3.6 acres is positioned within the prestigious Golf Course Street micro-market whereas the plot measuring 1.97 acres is strategically positioned in Sector 39 with proximity to NH 48.
“The land parcels collectively will supply a growth potential of over 1 million sq. toes and an estimated income potential of over ₹3,400 crore comprising luxurious residential residences of various configurations,” Godrej Properties mentioned.
Within the final fiscal, Godrej Properties Ltd had purchased two prime parcels of 5.15 acres and a couple of.76 acres in Golf Course Street micro-market from HSVP at public sale and plans to launch each these initiatives throughout this fiscal.
The corporate additionally gained auctions for 2 land parcels in Higher Noida within the present quarter.
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These 4 plots in Higher Noida and Gurugram will strengthen the corporate’s Delhi-NCR portfolio having a complete estimated income potential in extra of $1 billion.
Gaurav Pandey, MD & CEO, Godrej Properties, mentioned, “We’ve witnessed robust demand for our initiatives in NCR market demonstrating large belief and confidence which the purchasers have positioned in us. I’m very assured that these two new acquisitions will additional strengthen our growth portfolio in NCR in addition to cater to robust demand for our merchandise on this market.”
Godrej Properties is among the main actual property builders within the nation.
It turned the biggest participant final fiscal when it comes to gross sales bookings. The corporate offered properties price ₹22,500 crore in 2023-24 and has set a goal of ₹27,500 crore for the present fiscal.
Within the first quarter of this fiscal additionally, Godrej Properties has retained its primary place in gross sales bookings by promoting properties price ₹8,637 crore.
Godrej Properties is specializing in Delhi-NCR, Mumbai Metropolitan Area, Pune, Bengaluru and Hyderabad markets for group housing initiatives. Additionally it is arising with plotted developments in smaller cities.
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