Godrej Properties to develop residential project on 14.27 acre of land in Gurugram

Godrej Properties Ltd has entered into an agreement for the development of 14.27 acres of land in Gurugram, Haryana, with an estimated revenue potential of Rs 3,000 crore.

The development will comprise predominantly premium residential apartments, the company said in a statement.

This will be one of GPL's largest residential developments in Gurugram and significantly strengthens its presence in the city. The site is located with easy access to National Highway 48 and Northern Peripheral Road.


“This project will allow us to significantly increase our market share in Gurugram over the next several years and fits within our strategy of deepening our presence across key real estate micro-markets. We will aim to build an outstanding residential community that creates long term value for its residents,” said Gaurav Pandey, MD & CEO Designate, Godrej Properties.

Godrej Properties Ltd. has recently acquired two land parcels for a residential project in Noida from the local authority through an auction for Rs 377 crore, as it continues its aggressive expansion in NCR.

Godrej Properties recently signed a contract to buy a 50-acre piece of land in Manor, Palghar, outright.

The company also acquired an approximately 7-acre land parcel in the vicinity of Indiranagar, Bengaluru. This project is estimated to have a developable potential of approximately 0.6 million square feet of saleable area. It has an estimated booking value potential of approximately Rs 750 crore.

Godrej Properties also acquired a 0.5-acre land parcel from the Karam Chand Thapar (KCT) group to develop a luxury project near Carmichael Road, Mumbai. This project has an estimated booking value potential of approximately Rs 1,200 crore.