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Godrej Properties has emerged as the highest bidder for a nearly 5-acre residential land parcel in Noida after placing a bid of INR 331.75 crore. The company plans to develop a group housing project on the site, which is expected to generate more than INR 2,000 crore in revenue. The acquisition comes soon after the developer secured another large residential land parcel in Greater Noida with a projected revenue potential of over INR 7,000 crore, reflecting its continued focus on expanding its presence in the National Capital Region's residential market.
Godrej Properties has emerged as the highest bidder for a 4.95-acre residential land parcel in Sector 151, Noida, after placing a bid of INR 331.75 crore. The company plans to develop a residential group housing project on the site, which is expected to generate estimated revenue of more than INR 2,000 crore.
The company informed stock exchanges that it participated in an e-auction conducted by the New Okhla Industrial Development Authority (NOIDA) for residential group housing plots. According to the regulatory filing, Godrej Properties secured the highest bid for the 20,050-square metre land parcel, as reflected on the HDFC Bank e-tendering portal.
The allotment letter will be issued by NOIDA after completion of the required formalities and due process. This marks another addition to Godrej Properties' growing portfolio in the National Capital Region (NCR). In recent weeks, the company also acquired a 23.2-acre residential land parcel in Greater Noida with an estimated revenue potential of more than INR 7,000 crore. The developer has been actively expanding its land bank across key cities through outright purchases, joint developments and redevelopment projects, supported by strong housing demand.
Managing Director and CEO Gaurav Pandey said the company remained confident about the strength of the Noida market, supported by the consistent demand witnessed across its existing developments in the region. He added that the new project would strengthen the company's development portfolio in the NCR and was in line with its strategy of expanding its presence in key micro-markets across India's leading cities.
Godrej Properties has maintained an aggressive business development strategy over the past few years by acquiring land parcels in high-demand residential markets such as Delhi-NCR, Mumbai Metropolitan Region, Bengaluru, Pune and Hyderabad. The company has continued to report strong housing sales, supported by demand in the premium and mid-income residential segments.
Source PTI
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