In a recent development, Godrej Properties secured one of the top positioned as the highest bidder for two land parcels in Greater Noida. The combined value of these plots stands at Rs. 842 crore. Both land parcels measure 17.5 acres with an estimated potential of Rs. 5,000 crore, according to the company.
Greater Noida Industrial Development Authority recently conducted an e-auction for plotted development under residential group housing. The allotment letter for the same will be given to beneficiaries soon, as it is in the process.
The first land parcel of 9.5 acres in Sector Sigma – III and 8 acres in Sector 12 is well-positioned localities in Greater Noida. Both the land parcel holds a development potential of 3.75 million square feet. It also comprises several varieties of residential accommodations.
Earlier in 2022-23, Godrej Properties bagged two land parcels of 6.2 acres respectively in Sector 146, Noida. Here the first project named Godrej Tropical Isle, was introduced at a mega booking value of Rs. 2,050 crore. Recording an overwhelming response to this project, the company launched Godrej Jardinia within three quarters.
Godrej Jardinia was sold out in the launch phase of the first quarter of the current fiscal, with a booking value of Rs. 2,375 crore. The project recorded sell of more than Rs. 4,400 crore across three quarters.
Gaurav Pandey, MD and CEO, Godrej Properties said that demand for Godrej projects is high in NCR. He said, “I am confident that these two new acquisitions will further strengthen our development portfolio in NCR and cater to strong demand for our products in this market. ” On Friday, 09th August, Godrej Properties share was trading at 2.45% high.
