Godrej Properties Ltd on July 1 announced that it has emerged as the highest bidder for a 4.95-acre (20,050 sq. m.) residential group housing plot in Sector 151, Noida, in an e-auction conducted by the New Okhla Industrial Development Authority (NOIDA). The company acquired the land parcel for ₹331.75 crore, according to the e-tendering portal of HDFC Bank.
GPL plans to develop a premium residential project on the site, comprising apartments in multiple configurations. The development is expected to generate more than ₹2,000 crore in revenue, the company said.
“GPL acquired the land for ₹331.75 crore. Following the due process, NOIDA will issue the allotment letter,” the company said in a statement.
“Godrej Properties intends to develop a residential group housing project on the land parcel, projected to generate estimated revenues exceeding ₹2,000 crore. The development will feature premium residential apartments offered in diverse configurations,” it said.
Where is the plot located?
The plot enjoys a strategic location in Sector 151, Noida, offering connectivity to the Noida–Greater Noida Expressway and to the at Jewar. The surrounding neighbourhood benefits from robust infrastructure, including planned educational institutions and healthcare facilities.
“We are pleased to announce the addition of this new project in Noida to our portfolio. Building on the consistent demand witnessed for our existing developments in the region, we remain confident in the strength of this market. This project will further enhance our development portfolio in the National Capital Region and aligns seamlessly with our strategy of deepening our presence in key micro-markets across India’s leading cities,” Gaurav Pandey, MD and CEO, Godrej Properties, said.
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Godrej Properties Ltd announced on June 1 that it has emerged as the highest bidder for a 23.2-acre residential land parcel in the DMIC Integrated Township, Greater Noida. The company secured the parcel through an e-auction conducted by DMIC Integrated Industrial Township Greater Noida Limited (IITGNL). The proposed development on the site is estimated to have a revenue potential of over ₹7,000 crore.
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