Real estate developer Godrej Properties has emerged as the highest bidder and has secured the Letter of Intent to develop two group housing plots through an e-auction conducted by the Haryana Shehri Vikas Pradhikaran (HSVP), the company said in a regulatory filing. The two land parcels are located in the Golf Course Road micro-market. “The two prime projects spread over 2.76 acres and 5.15 acres respectively shall have a combined estimated revenue potential of approximately Rs 3,100 crore,” it said.
Golf Course Road is an established micro-market renowned for its upscale residential and commercial developments, making it an attractive destination for real estate development. With its well-planned infrastructure and proximity to prominent landmarks, Golf Course Road offers residents a high-quality lifestyle and convenient connectivity.
“Our foray into the prime Golf Course Road Micro-market with two luxury residential projects marks a significant milestone for Godrej Properties. It aligns well with our expansion strategy and will further solidify our position as a leading real estate developer in NCR. We will aim to build an outstanding residential community that creates long-term value for its residents,” said Gaurav Pandey, MD & CEO, Godrej Properties.
Earlier in April, Godrej Properties posted its fourth quarter results for the financial year 2022-23 with sales booking up 56 per cent to an all-time high of Rs 12,232 crore on strong demand for residential properties. It had said that the company achieved its highest ever sales bookings in the fourth quarter as well as the entire 2022-23 financial year. In the fourth quarter, the company clocked sales bookings of Rs 4,051 crore. Its sales bookings stood at Rs 7,861 crore in 2021-22.