Godrej Properties Emerges as the Highest Bidder for 2 Land Parcels in Greater NOIDA

New Delhi, August 9, 2024: Godrej Properties Ltd. (GPL) on Friday announced that it 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 located 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, says a press release issued by the company. 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.

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.” 

* On the basis of current business assumptions.