Godrej Properties Ltd. (GPL), (BSE scrip id: GODREJPROP), one of India’s leading real estate developers, today announced that it has been declared the highest bidder for two adjacent land parcels in Noida for a total bid value of INR 377 crore, according to the e-tendering portal of SBI, which facilitated an e-auction on behalf of New Okhla Industrial Development Authority (NOIDA).
GPL will develop residential group housing on the land parcels located in Sector 146, Noida. Spread over 12.4 acres, the land parcels will offer approximately 3.2 million square feet of development potential comprising primarily premium residential apartments of varied configurations.
Mohit Malhotra, MD & CEO, Godrej Properties, said, “We have witnessed strong demand for our existing projects in Noida and these projectswill further strengthen our development portfolio in NCR (National Capital Region). This fits well with our strategy of deepening our presence in key micro markets across India’s leading cities.”
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 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.
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