October 25, 2024
Godrej Properties Wins Bid for 7.5 Acre Group Housing Plot in Gurugram
Real Estate News
This is the 11th new project Godrej Properties has acquired in FY25 and takes the booking value added through new projects to Rs 22,950 crore.
Godrej Properties (GPL) has emerged as the highest bidder and has secured the letter of intent to develop a group housing plot at Golf Course Road, Gurugram through an e-auction conducted by the Haryana Shehri Vikas Pradhikaran (HSVP).
The plot measuring 7.5 acres will offer a development potential of over 1.7 million sq ft with an estimated revenue potential in excess of Rs 5,500 crore.
This is the 11th new project it has acquired in FY25 and takes the booking value added through new projects to Rs 22,950 crore thereby surpassing its full year business development guidance of Rs 20,000 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 both these projects in the current financial year. The estimated revenue potential of the company’s developable land on Golf Course Road is in excess of USD 1.5 billion.
Source : ET Realty
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