Godrej Properties Wins Gurgaon Land Bid

25 Oct 2024 , 12:51 PM

With the potential to earn Rs 5,500 crore, Godrej Properties has emerged as the top bidder for a luxury group housing property on Gurugram’s Golf Course Road.

The Haryana Shehri Vikas Pradhikaran (HSVP) is conducting an online auction to make the purchase.

The company has now acquired 11 new projects in FY25, bringing its total booking value added through new projects to Rs 22,950 crore, exceeding its Rs 20,000 crore long-term business development goal.

The business has obtained the HSVP Letter of Intent (LoI).

The 7.5-acre parcel, which is situated near the Golf Course Road micro-market, has the potential to be developed into almost 1.7 million square feet of luxury residential flats in a variety of layouts.

GPL intends to start both of these projects in the current fiscal year after purchasing two premium parcels in the Golf Course Road micro-market, totalling 5.15 acres and 2.76 acres, from HSVP at auction in FY24.

Over USD 1.5 billion is the estimated earning potential of GPL’s developable land on Gurgaon’s Golf Course Road.

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