The project will have an estimated revenue potential of approximately INR 2,500 Crore.
by Suman Gupta
Mumbai, December 29, 2022: Godrej Properties Ltd. (GPL), (BSE scrip id: GODREJPROP), one of India’s leading real estate developers, today announced that it has acquired approximately 9 acres of land in Gurugram, Haryana through an outright purchase. This project will offer approximately 1.6 million square feet of premium residential development with exceptional lifestyle amenities.
The site is strategically located with easy access from Golf Course Road Extension, also known as Southern Peripheral Road.
Gaurav Pandey, MD & CEO Designate, Godrej Properties, said, “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. 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”.
Golf Course Road Extension is one of the most premium micro-markets of NCR offering quality residential, corporate and retail developments.
On the basis of the current business assumptions.
About Godrej Properties Limited: Godrej Properties brings the Godrej Group philosophy of innovation, sustainability, and excellence to the real estate industry. Each Godrej Properties development combines a 125-year legacy of excellence and trust with a commitment to cutting edge design, technology, and sustainability. In FY 2021, Godrej Properties emerged as the largest developer in India by the value and volume of residential sales achieved.
Godrej Properties has deeply focused on sustainable development. In 2010, GPL committed that all of its developments would be third party certified green buildings. In 2020,2021 and again in 2022, the Global Real Estate Sustainability Benchmark ranked GPL #1 globally amongst listed residential developers for its sustainability and ESG practices. In 2017, GPL was one of the founding partners of the Sustainable Housing Leadership Consortium (SHLC), whose mission is to spread sustainable development practices across the Indian real estate sector. In recent years, Godrej Properties has received over 300 awards and recognitions, including the Porter Prize 2019, The Most Trusted Real Estate Brand in the 2019 Brand Trust Report, Builder of the Year at the CNBC-Awaaz Real Estate Awards 2019, and The Economic Times Best Real Estate Brand 2018.
