Godrej Properties acquires Noida Plot for Rs 5.06 billion

29 Feb 2024 CW Team

Real estate developer Godrej Properties emerged as the successful bidder for a 6.45-acre group housing plot in Noida, with a total bid value of Rs 5.06 billion, according to Lokesh M, the chief executive officer of the Noida Authority on February 26.

Lokesh M stated that the real estate company would be developing the group housing plot, spanning over 26,000 sq m, situated in Noida's premium Sector 44. The land parcel had been auctioned by the Noida Authority through an e-auction in December 2023.

As per Sanjay Kumar Khatri, the additional chief executive officer of the Noida Authority, two bids were received for the group housing plot in Sector 44, Noida, measuring 26,136.55 square meters or 6.45 acres. Godrej Properties and Max Estates were the two developers vying for the bid. During the e-auction on February 26, Godrej made the highest bid at Rs 5.06 billion, securing the plot.

Following the successful bid, Lokesh M, the CEO of the Noida Authority, mentioned that the allotment letter to Godrej Properties has been processed in accordance with the rules.

CEO Lokesh M expressed satisfaction, stating, "It's good news that the authority has been able to sell the plot at a good price, and the consumer will get a better quality product."

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