Godrej is the highest bidder for Haryana luxury plots

18 Jul 2023 CW Team

Godrej Properties, the real estate development business of Godrej Group, has emerged as the highest bidder for two luxury group housing plots in the Golf Course Road micro market of Gurgaon in Haryana.

The projects spread over 2.76 acres and 5.15 acres will have a combined estimated revenue potential of about Rs 3,100 crore. The average rate for a plot in this market is around Rs 100 crore per acre.

"Our foray into the prime Golf Course Road micromarket with two luxury residential projects marks a significant milestone for Godrej Properties," said Gaurav Pandey, MD & CEO, Godrej Properties. "It aligns well with our expansion strategy and will further solidify our position as a leading real estate developer in NCR."

The auction for the plots was conducted by Haryana Shehri Vikas Pradhikaran (HSVP). Golf Course Road is an established micromarket known for its upscale residential and commercial developments, making it an attractive destination for real estate developers. Godrej Properties has made multiple acquisitions in and around the NCR post-Covid.

This includes a land parcel in Gurgaon that the company acquired recently through outright purchase. The project on this land will offer approximately 1.6 million sq ft of premium residential development with an estimated revenue potential of about Rs 2,500 crore.

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