Construction Industry News
Godrej Properties Ltd (GPL), one of India's leading real estate developers, announced that it has emerged as the highest bidder and secured the letter of intent to develop a mass housing plot on Golf Course Road in Gurugram through a electronic auction conducted by Haryana Shehri Vikas Pradhikaran (HSVP).
The land, measuring 7.5 acres, is located in the prestigious Golf Course Road micro-market and will offer development potential of over 1.7 million square feet, comprising luxury residential apartments of varying configurations, with a estimated revenue potential of over Rs 5,500 crore. In FY24, GPL acquired two prime plots measuring 5.15 acres and 2.76 acres in Golf Course Road micro market from HSVP through auction and plans to launch these two projects during the current financial year. The estimated revenue potential of GPL's developable land on Golf Course Road in Gurgaon exceeds $1.5 billion.
Gaurav Pandey, Managing Director and CEO, Godrej Properties, said, “We have seen strong demand for our projects in the NCR market, demonstrating the immense trust our clients have in us. I am confident that this new acquisition will further strengthen our development portfolio in NCR and meet the strong demand for our products in this market. We will aim to build exceptional residential communities that create long-term value for its residents.
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