Godrej Properties has emerged as the highest bidder and has secured the Letter of Intent (LoI) to develop two group housing plots at premium locations in Gurugram through an e-auction conducted by the Haryana Shehri Vikas Pradhikaran (HSVP). The combined bid value for both the plots is Rs 515 crore.

The plot measuring 3.6 acres is located in the prestigious Golf Course Road micro-market whereas the Plot measuring 1.97 acres is strategically located in Sector 39 with proximity to NH 48. The land parcels together will offer a development potential of over 1 million square feet and an estimated revenue potential of over Rs 3,400 crore comprising luxury residential apartments of varied configurations. With its well-planned infrastructure and proximity to prominent landmarks, both the micro-markets offer residents a high-quality lifestyle and convenient connectivity.

In FY24, the company bought two prime parcels of 5.15 acres and 2.76 acres in Golf Course Road micro-market from HSVP at auction and plans to launch both these projects in FY25. The company also won auctions for two land parcels in Greater Noida in the current quarter, which combined with these two new additions in Gurugram, has allowed company to greatly strengthen its NCR portfolio with 4 projects with a total estimated revenue potential in excess of $1 billion.

Godrej Properties is a realty firm of Godrej group and it is one of the leading real estate development companies in India based in Mumbai, Maharashtra. Currently, their business focuses on residential, commercial and township developments.