Godrej Properties emerges as the highest bidder for luxury housing plot in Gurugram 

The housing plot, measuring 7.5 acres is located in the Golf Course Road micro-market and will offer a development potential of over 1.7 million square feet, comprising of luxury residential apartments of varied configurations

Godrej Properties Ltd. (GPL) said it has emerged as the highest bidder and has secured the Letter of Intent to develop a group housing plot at Golf Course Road in Gurugram through an e-auction conducted by the Haryana Shehri Vikas Pradhikaran (HSVP). 

The plot, measuring 7.5 acres is located in the Golf Course Road micro-market and will offer a development potential of over 1.7 million square feet, comprising of luxury residential apartments of varied configurations, with an estimated revenue potential of ₹5,500 crore. 

In FY24, GPL acquired two prime parcels measuring 5.15 acres and 2.76 acres in the Golf Course Road micro-market from HSVP through auction and plans to launch housing projects in the current financial year. 

“The estimated revenue potential of GPL’s developable land on Golf Course Road in Gurgaon is $1.5 billion,” the company said. 

Gaurav Pandey, MD & CEO, Godrej Properties, said, “We have witnessed strong demand for our projects in the NCR market demonstrating the huge trust and confidence which our customers have placed in us. 

“This new acquisition 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,” he said. 

Published - October 25, 2024 09:10 am IST