Godrej Properties acquires 9-acre land in Gurugram

Godrej Properties Ltd has acquired 9 acres of land in Gurugram, Haryana through an outright purchase, the company said in a statement.

“Gurugram is an important market for us and we are happy to add this city center land parcel to our portfolio. Golf Course Road Extension is an established and premium micro-market with good civic and social infrastructure. We aim to build premium residential spaces with best in class amenities,” said Gaurav Pandey, MD & CEO Designate, Godrej Properties.

This project will offer approximately 1.6 million square feet of premium residential development with an estimated revenue potential of approximately Rs 2,500 crore.


“This project will allow us to significantly increase our market share in Gurugram over the next several years and fits within our strategy of strengthening our presence in key micro markets,” said Pandey.

Golf Course Road Extension is one of the most premium micro-markets of NCR offering quality residential, corporate and retail developments.

Godrej Properties has recently acquired around 62 acres of land in Kurukshetra, Haryana, to develop 1.4 million sq ft of plotted residential development.

The company has been acquiring land in the NCR and its peripheral areas to expand its portfolio in north India.

It recently entered into an agreement for development of 14.27 acres of land in Gurugram, Haryana, with an estimated revenue potential of Rs 3,000 crore.

Godrej Properties 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 the NCR.

Godrej Properties also 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.

Godrej Properties also acquired a half-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 Rs 1,200 crore.