Godrej Properties acquires TDR certificates for Gurugram development

02 Jul 2024 CW Team

Godrej Properties has purchased Transfer of Development Rights (TDR) certificates worth Rs 500 million from an individual for its Sector 43 project in Gurgaon, a practice commonly seen in Mumbai but now emerging in the NCR region. This acquisition will enable the company to construct an additional 300,000 sq ft of area, with a total revenue potential of Rs 9 billion, according to sources.

In Haryana, landowners can receive TDR certificates from the government as compensation when their land is used for development projects. These certificates can then be sold to developers at market rates.

CBRE, the transaction advisor for this deal, did not respond to queries, and Godrej Properties declined to comment. Sources familiar with the deal indicated that nearly 1,000 TDR certificates were generated with a floor area ratio (FAR) of 2. Most certificates had a face value of 50 sq m each, while some were approximately 77 sq m, totalling around 1 million sq ft. Godrej Properties has acquired these certificates for their group housing project in Sector 43. This transaction is expected to encourage the purchase of TDRs by developers in Gurgaon, a trend previously more common in cities like Mumbai. Godrej Properties recorded a 473% increase in sales in Gurugram in FY24 compared to the previous year and has a robust launch pipeline for FY25, including new projects in Sectors 103, 43, and 54.

In July 2023, Godrej Properties emerged as the highest bidder for two luxury group housing plots in the Golf Course Road micro-market in Gurgaon, including one in Sector 43 for which the TDR certificates were purchased. The projects, spread over 2.76 acres and 5.15 acres, are expected to generate combined estimated revenue of about Rs 31 billion. (Source: ET)

Resources

09 Mar 2026

Haworth India Hosts Women’s Leadership Panel Series

Haworth India marked International Women’s Day by hosting a leadership roundtable series titled ‘Give to Gain’, bringing together senior women leaders from architecture and design firms, corporates and project management consultancies. The series has been conducted in Delhi and Mumbai, with upcoming sessions scheduled in Bengaluru and Hyderabad on 27 March 2026. Structured as moderated panel discussions followed by audience interaction, the initiative examined the business impact of women’s leadership and the role of inclusive workplaces in supporting professional growth. Manish Khan..

Max Estates Secures RERA For Max One Project

Max Estates has secured RERA approval (UPRERA No.: UPRERAPRJ9759) for its Max One development around Max Towers in Sector 16B, Noida, bringing renewed progress to a project previously stalled following the insolvency of its earlier developer. Spread across around 10 acres with an estimated development potential of about 2.5 million sq ft, Max One is planned as an integrated mixed-use campus combining serviced residences, premium offices, retail spaces and a private club. The project is expected to generate total sales potential of about Rs 20 billion along with an estimated annuity rental inc..

Hindware Introduces Starc Smart Wall Mount Toilet

Hindware has introduced the Starc Smart Wall-Mount Toilet under its Hindware Italian Collection, designed to combine automation, hygiene and contemporary bathroom aesthetics. The model features automatic flushing, sensor-based seat opening and closing, and remote-controlled functions. It also includes an oscillating water spray and warm air dryer for cleaning, along with a self-cleaning nozzle designed to maintain hygiene. Additional features include adjustable heated seating, customisable water temperature and pressure settings, a foot-touch flush system and an LCD control interface. The wa..