Construction Industry News
Godrej Properties has participated in an e-auction conducted by the Greater Noida Industrial Development Authority (GNIDA) for residential group housing plots, where GPL has emerged as the highest bidder for 2 land parcels with a total combined bid value of Rs 842 crore, according to the e-tendering portal of SBI. GNIDA shall issue the allotment letters after following the due process.
Spread over ~ 9.5 acres in Sector Sigma – III and ~8 acres in Sector 12, the land parcels are strategically located in one of the most prime locations in Greater Noida. The land parcels together will offer a development potential of ~3.75 million square feet and an estimated revenue potential of over Rs 5,000 crore comprising premium residential apartments of varied configurations. With its well-planned infrastructure, wide roads, and proximity to both Delhi and Noida, Greater Noida offers a high-quality lifestyle and good connectivity to Jewar airport.
In FY 23, GPL bagged two prime parcels of 6.2 acres each in sector 146, Noida. The first project, Godrej Tropical Isle, was launched successfully with a booking value of over Rs 2,050 crore and proved to be the biggest ever launch of GPL at the time. The response to Tropical Isle led to the launch of the second project, Godrej Jardinia, within 3 quarters, which was sold out at launch in Q1 of the current fiscal, with a booking value of Rs 2,375 crore. The projects saw tremendous success with both projects selling over Rs ~4,400 crore across just three quarters.
Gaurav Pandey, MD & CEO, Godrej Properties, said, “We have witnessed strong demand for our projects in NCR market demonstrating huge trust and confidence which the customers have placed in us. I am very confident that these 2 new acquisitions 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.”
230
999
599
799
250
999
460
999
270
999
450
1001
403
1299
300
1001
370
999
228
599
1299
1999
200
399
309
499
260
1001
216
599
301
699
