Godrej Plans Rs 12.5 Billion Plotted Township in Panipat
Real Estate

Godrej Plans Rs 12.5 Billion Plotted Township in Panipat

Godrej Properties Ltd has entered the Panipat market with a 43 acre residential plotted scheme in Sector 40, its fourth such venture in North India. The land, bought at auction for about Rs 1.6 billion, will host roughly 9.5 lakh sq ft (1.02 million sq ft) of plotted development, offering around 420 plots. The company pegs the project’s revenue potential at more than Rs 12.5 billion.

Managing Director and Chief Executive Officer Gaurav Pandey said the project aligns with the builder’s strategy of widening its plotted development footprint. “Haryana has long been a key market for us. Our Panipat entry will set a new benchmark for quality living in the city,” he noted.

The new scheme follows the firm’s recent success in Bengaluru, where it sold over 1,450 flats in the Godrej MSR City township for upwards of Rs 20 billion. MSR City has a total potential of about 5.6 million sq ft, with significant inventory still to be launched.

Market data from consultant Anarock show housing sales in India’s seven largest cities fell 20 per cent year on year in the April–June quarter, to about 96,285 units from 120,335 a year earlier. However, a three per cent quarter on quarter rise hints at recovering momentum amid easing domestic uncertainties and a more supportive monetary stance.

Godrej Properties Ltd has entered the Panipat market with a 43 acre residential plotted scheme in Sector 40, its fourth such venture in North India. The land, bought at auction for about Rs 1.6 billion, will host roughly 9.5 lakh sq ft (1.02 million sq ft) of plotted development, offering around 420 plots. The company pegs the project’s revenue potential at more than Rs 12.5 billion.Managing Director and Chief Executive Officer Gaurav Pandey said the project aligns with the builder’s strategy of widening its plotted development footprint. “Haryana has long been a key market for us. Our Panipat entry will set a new benchmark for quality living in the city,” he noted.The new scheme follows the firm’s recent success in Bengaluru, where it sold over 1,450 flats in the Godrej MSR City township for upwards of Rs 20 billion. MSR City has a total potential of about 5.6 million sq ft, with significant inventory still to be launched.Market data from consultant Anarock show housing sales in India’s seven largest cities fell 20 per cent year on year in the April–June quarter, to about 96,285 units from 120,335 a year earlier. However, a three per cent quarter on quarter rise hints at recovering momentum amid easing domestic uncertainties and a more supportive monetary stance.

Related Stories

Gold Stories

Next Story
Real Estate

L&T Wins Mega Order for India’s Largest NVIDIA B300 AI Factory

Larsen & Toubro (L&T), through Vyoma.AI’s AI infrastructure subsidiary LTN Compute, has secured a mega order to develop what the company describes as India’s largest single-cluster AI infrastructure facility. The NVIDIA B300 AI Factory will support US-based AI cloud company Together AI’s platform for large-scale inference, fine-tuning and training workloads.The integrated AI Factory will be hosted at Vyoma.AI’s Chennai data centre campus and will have a capacity of 10,000 NVIDIA B300 GPUs. The platform will combine hyperscale data centre infrastructure, accelerated computing, h..

Next Story
Infrastructure Urban

Autodesk Elevates Nikhil Bagalkotkar to Lead AEC in India, SAARC

Autodesk has elevated Nikhil Bagalkotkar as Head – Architecture, Engineering and Construction (AEC), India and SAARC, with immediate effect.In his new role, Bagalkotkar will lead Autodesk's AEC business strategy across the region and drive adoption of the company's Design and Make platform. He will also focus on promoting digital design and construction technologies to help customers accelerate innovation and deliver more sustainable and resilient infrastructure.Bagalkotkar will be responsible for expanding Autodesk's AEC business, strengthening customer and partner engagement, and accelerat..

Next Story
Real Estate

Listed Developers' Pre-Sales Seen Rising 22.3 Per Cent in FY27

India's leading listed residential developers are expected to sustain strong sales momentum in FY27, with combined pre-sales of 11 major players projected to rise 22.3 per cent year-on-year, according to an analysis by ANAROCK Research & Advisory.Combined pre-sales of the developers are estimated to increase from Rs 1.49 trillion in FY26 to Rs 1.82 lakh crore in FY27. ANAROCK attributed the growth to sustained end-user demand, new project launches and strong execution despite higher property prices, construction costs and global uncertainties.Dr Prashant Thakur, Executive Director and Head..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement