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Godrej Properties has emerged as the highest bidder for two land parcels with a total combined bid value of ₹842 crore in an e-auction conducted by the Greater Noida Industrial Development Authority (GNIDA) for Residential Group Housing Plots.
GNIDA will issue the allotment letters after following the due process, Godrej Properties said in a statement.
The land parcels, spread over 9.5 acres in Sector Sigma—III and 8 acres in Sector 12, are strategically located in one of the most prime locations in Greater Noida. Together, they will offer a development potential of 3.75 million square feet and an estimated revenue potential of over ₹5,000 crore, comprising premium residential apartments of varied configurations.
It said that with its infrastructure, wide roads, and proximity to Delhi and Noida, Greater Noida offers a high-quality lifestyle and good connectivity to Jewar Airport.
In FY23, GPL bagged two parcels of 6.2 acres each in sector 146, Noida. The first project, Godrej Tropical Isle, was launched successfully with a booking value of over ₹2,050 crore and proved to be the biggest-ever launch of GPL at the time. The response to Tropical Isle led to the launch of the second project, Godrej Jardinia, within 3 quarters, which was sold out at launch in Q1 of the current fiscal, with a booking value of ₹2,375 crore. The projects sold over ₹4,400 crore across just three quarters.
“We have witnessed strong demand for our projects in NCR market demonstrating huge trust and confidence which the customers have placed in us,” Godrej Properties MD & CEO Gaurav Pandey said. “I am very confident that these two new acquisitions will further strengthen our development portfolio in NCR as well as cater to strong demand for our products in this market.”
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