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new Delhi: Godrej Properties (GPL) has entered into an agreement for the development of 14.27 acres of land. GurugramHaryana, the company said in a BSE filing.
The proposed development will mainly consist of premium residential apartments and will have an estimated revenue potential of around Rs 3,000 crore.
Gaurav PandeyThe company’s designated MD & CEO said, “This project will allow us to significantly increase our market share in Gurugram over the next several years and is in line with our strategy to strengthen our presence in key real estate micro-markets.”
The company had recently acquired about 18.6 acres of land Kandivali, Mumbai, The project has a developable capacity of approximately 3.72 million sq ft with an estimated revenue potential of approximately Rs 7,000 crore.
In November 2022, it was declared the highest bidder for two adjacent land parcels Noida According to the e-tendering portal of SBI, which facilitated the e-auction on behalf of New Okhla Industrial Development Authority (Noida), the total bid value is Rs 377 crore.
GPL will develop residential group housing on these plots located in Sector 146, Noida. Spread across 12.4 acres, the two adjacent land parcels will provide a development potential of approximately 3.2 million sq ft.
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