Godrej Properties acquires 9-acre land in Gurugram for housing project

30 Dec 2022 CW Team

Godrej Properties has bought an about 9-acre land in Gurugram to develop a housing project with sales potential of Rs 25 billion. It has acquired the land through an outright purchase. It did not mention the deal value and the name of the seller.

This project will offer about 1.6 million sq ft of premium residential development. The project will have an estimated revenue potential of about Rs 25 billion. 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." This project will allow us to significantly increase our market share in Gurugram over the next several years, he added.

Sitting on a huge cashpile with plans to invest USD 1 billion, Godrej Properties is acquiring land -- through outright purchase and partnership with land owners, for future development. Earlier this week, Godrej Properties purchased about 62 acre land in Kurukshetra, Haryana for over Rs 1 billion to develop a plotted residential project.

In this month only, Godrej Properties has bought a 18.6-acre land at Kandivali in Mumbai to develop a premium housing project with an estimated sales revenue of Rs 70 billion. It also partnered with landowner for joint development of 14.27 acre of land in Gurugram and expects around Rs 30 billlion sales revenue from development of a housing project on this land.

Also Read
BRO completes 2 bridges near China border in Uttarakhand
Airtel may hike capex to Rs 280 bn for 5G rollout

Real Estate

05 Dec 2025

RBI Rate Cut Boosts Confidence Across Housing Market

Industry Context and Market DynamicsThe real estate industry has welcomed the RBI’s rate cut as a timely boost to affordability and demand. With home prices having risen steadily across major markets, even a marginal reduction in interest rates meaningfully strengthens purchasing power, especially for first-time and mid-income buyers.Ashish Jerath, President – Sales & Marketing, Smartworld Developers, observes:“The RBI’s 25-basis-point cut, bringing the repo rate down to 5.25%, is a timely boost for the real estate sector. Lower interest rates reduce borrowing costs, enabling homeb..

BMC Resumes Rs 170 Billion Road Works, Targets 80 per cent By Jan 2026

Following the withdrawal of the southwest monsoon in October, the Brihanmumbai Municipal Corporation (BMC) has restarted work on 645 roads—covering 297.49 kilometres—under its large-scale concretisation programme. Data shows that more than 60 per cent of the resumed works are located in the western suburbs. Officials said the civic body aims to complete concretisation on 80 per cent of the roads where fresh work has begun by January 2026. Launched in 2022, the Rs 170 billion project seeks to concretise 700 kilometres of roads across Mumbai. All civil works were halted during the monsoon ..

India Pushes Digital Shift In Urban Land Mapping

The Department of Land Resources (DoLR) under the Ministry of Rural Development has convened a National Symposium on NAKSHA – the National Geospatial Knowledge-based Land Survey of Urban Habitations – to advance India’s transition to modern, technology-driven land mapping. Speaking at the inaugural session, Secretary Manoj Joshi underscored the urgent need to move revenue departments away from outdated, tape-based methods and rough hand-drawn sketches. He stressed that adopting latitude–longitude-based digital mapping and GIS-linked registration systems is essential for economic stabi..