Gurugram has witnessed the entrance of Godrej Properties, which is one of the leading real estate companies. It recently acquired two prime residential plots for Rs 515 crore and is set to construct luxury homes on these sites with a projected cost of Rs 3400 crore. In a regulatory filing and a recent announcement, Godrej Properties announced that it was the highest bidder in an e-auction held by Haryana Shehri Vikas Pradhikaran (HSVP) and therefore has the Letter of Intent for the development of these group housing plots situated towards the western side of NH 48.

The said two plots have a total area of 5.57 acres and are well positioned within the city of Gurugram. While one plot extending to 3.6 acres is in the very coveted Golf Course Road micro-market, another plot measuring 1.97 acres is within Sector 39 which is adjacent to Delhi- Jaipur Highway (NH 48).

The above areas Godrej Properties said including these plots can have more than 1 million square feet of development and revenue potential of more than Rs 3400 crore. On the other hand, the company intends to construct luxury residential apartments with several floor plans on these plots. Last financial year, Godrej Properties through the HSVP auction two other parcels of land measuring 5.15 acres and 2.76 acres in the Golf Course Road area, which are also prime lots are stomach in this project, within this fiscal year, the company intends to roll out these projects.

What’s more, within this quarter, the company managed to acquire two land parcels in Greater Noida.

Overall these acquisitions in Greater Noida and Gurugram are also likely to add value to Godrej Properties\’ portfolio in the Delhi-NCR area with a total potential revenue of more than USD 1 billion.

Speaking on the NCR market, Gaurav Pandey, the Managing Director & CEO of Godrej Properties, highlighted the growth plans of the company, the demand that their projects are serving and the confidence customers are putting in them. He further asserts that these new acquisitions will only enhance their development portfolio in the region.

Reinforcing its position in India’s real estate market, Godrej Properties undertook record Sales bookings of Rs 22500 Crore in the year 2023-24, which positions the company to be a market leader in the industry. This year, the company is targeting Rs 27500 crore worth of sales bookings. In the first quarter alone, Godrej Properties held its top spot selling goods worth Rs 8637 crore. The firm is looking to increase its foothold in high-growth areas such as Delhi-NCR, MMR, Pune, Bangalore, and Hyderabad, while also venturing into plotted ventures in tier II cities.