Godrej Properties Secures Strategic Land Parcels in Gurugram for Major Luxury Developments

New Delhi:

Godrej Properties Ltd. (GPL) has successfully secured two prime luxury group housing plots in Gurugram with a winning bid of ₹515 crore during an e-auction organized by the Haryana Shehri Vikas Pradhikaran (HSVP).

Significant Revenue Potential

The land parcels, spanning approximately 3.6 acres and 2 acres, hold a combined revenue potential exceeding ₹3,400 crore, as projected by GPL. This acquisition is set to significantly enhance the company’s footprint in the lucrative Gurugram real estate market.

Expansion in Gurugram’s Golf Course Road Micro-Market

This latest acquisition follows GPL's earlier purchase of two premium land parcels, measuring 5.15 acres and 2.76 acres, in Gurugram’s prestigious Golf Course Road micro-market, secured during an HSVP auction in FY24.

Upcoming Project Launches

GPL is gearing up to launch both newly acquired projects within this fiscal year, further strengthening its position in the National Capital Region (NCR) market. Additionally, the company has won bids for two land parcels in Greater Noida this quarter, bringing its NCR portfolio to four projects with an estimated revenue potential exceeding $1 billion.