Godrej Properties Limited (GODREJPROP) has emerged as the highest bidder for a 4.95-acre residential land parcel in Noida Sector 151. The company acquired the land for Rs 331.75 crore through an e-auction conducted by the New Okhla Industrial Development Authority (NOIDA). NOIDA will issue the allotment letter following the due process.
The development is projected to generate estimated revenues exceeding Rs 2,000 crore, featuring premium residential apartments in diverse configurations. The plot offers strategic connectivity to the Noida–Greater Noida Expressway and convenient access to Noida International Airport at Jewar. The surrounding area benefits from infrastructure including planned educational institutions and healthcare facilities.
This acquisition follows GPL's earlier success this month in acquiring a 23.2-acre residential land parcel in Greater Noida with an estimated revenue potential exceeding Rs 7,000 crore. The new project will further enhance Godrej Properties' development portfolio in the National Capital Region.
Gaurav Pandey, MD & CEO, stated, "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.
Disclaimer: This article is based on company filings submitted to the Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE) and is for informational purposes only. It does not constitute investment advice or a recommendation. Investors should conduct their own research and consult a qualified financial advisor before making investment decisions.