Godrej Properties Secures 17.5 Acres in Greater Noida for Rs 842 Crore

Godrej Properties has secured a bid to acquire two land parcels in Greater Noida, collectively measuring 17.5 acres, for a sum of Rs 842 crore. The company aims to develop residential projects on these plots with an estimated revenue exceeding Rs 5,000 crore. The parcels were obtained via an e-auction by GNIDA.

Godrej Properties has emerged as the highest bidder for two land parcels in Greater Noida, acquiring a total of 17.5 acres for Rs 842 crore. The company anticipates generating over Rs 5,000 crore from the development of these plots.

The e-auction, conducted by the Greater Noida Industrial Development Authority (GNIDA), saw the company securing strategic parcels in Sector Sigma - III and Sector 12. These locations are considered prime areas within Greater Noida.

Gaurav Pandey, MD & CEO of Godrej Properties, expressed confidence in the new acquisitions, highlighting the robust demand for their residential projects in the NCR market. The company has a significant presence in major Indian cities and was the largest listed real estate firm by sales bookings in the last fiscal year, with properties worth over Rs 22,500 crore sold in 2023-24.