Godrej Properties and Sobha lead in Greater Noida land auction
Real Estate

Godrej Properties and Sobha lead in Greater Noida land auction

Godrej Properties and Sobha have emerged as top bidders for several land parcels in an auction conducted by the Greater Noida Authority. The auction, which featured five parcels of land with an initial valuation of Rs 7.38 billion, concluded with total bids amounting to Rs 15 billion. Godrej Properties secured two major plots: a 38,771 sq meter site for Rs 4 billion and a 32,350 sq meter site for Rs 4.42 billion. Sobha was the highest bidder for a 13,938 sq meter plot, winning it for Rs 1.61 billion. Other notable bidders included Prasu Infrabuild, which acquired a 28,265 sq meter plot for Rs 2.01 billion, and Ashtech Industries, which won a 22,558 sq meter plot for Rs 2.94 billion. Sachin Arora, Founder, Moneytree Realty, remarked on the significance of the aggressive bidding, highlighting the potential of the Noida and Greater Noida real estate markets. He noted that these developments are expected to further boost the region's real estate sector, which is currently experiencing heightened interest from investors and end users. Sobha Ltd has also recently entered into a partnership with a Gurugram-based landowner to jointly develop a 12-acre residential project in Sector 63A. This will be Sobha?s first project in Noida, complementing its ongoing projects in Gurugram, including two near the Golf Course Extension. Godrej Properties, meanwhile, has reported a 473% increase in sales in Gurugram for FY24 compared to the previous year and has a robust launch pipeline for FY25, with new projects planned in Sectors 103, 43, and 54. In July 2023, the company was the highest bidder for two luxury group housing plots on Golf Course Road in Gurgaon. Recently, Godrej Properties also achieved significant sales success with its project Godrej Jardinia in Sector 146, Noida, where it sold 650 homes worth over Rs 20 billion. This launch, initiated in May 2024, is noted as the company?s most successful in Noida in terms of sales value. In addition, Godrej Properties recently acquired a 6.46-acre plot in Noida?s Sector 44, offering 1.4 million square feet of development potential and an estimated revenue potential of Rs 30 bilion. This land will feature premium residential apartments of various configurations. (ET)

Godrej Properties and Sobha have emerged as top bidders for several land parcels in an auction conducted by the Greater Noida Authority. The auction, which featured five parcels of land with an initial valuation of Rs 7.38 billion, concluded with total bids amounting to Rs 15 billion. Godrej Properties secured two major plots: a 38,771 sq meter site for Rs 4 billion and a 32,350 sq meter site for Rs 4.42 billion. Sobha was the highest bidder for a 13,938 sq meter plot, winning it for Rs 1.61 billion. Other notable bidders included Prasu Infrabuild, which acquired a 28,265 sq meter plot for Rs 2.01 billion, and Ashtech Industries, which won a 22,558 sq meter plot for Rs 2.94 billion. Sachin Arora, Founder, Moneytree Realty, remarked on the significance of the aggressive bidding, highlighting the potential of the Noida and Greater Noida real estate markets. He noted that these developments are expected to further boost the region's real estate sector, which is currently experiencing heightened interest from investors and end users. Sobha Ltd has also recently entered into a partnership with a Gurugram-based landowner to jointly develop a 12-acre residential project in Sector 63A. This will be Sobha?s first project in Noida, complementing its ongoing projects in Gurugram, including two near the Golf Course Extension. Godrej Properties, meanwhile, has reported a 473% increase in sales in Gurugram for FY24 compared to the previous year and has a robust launch pipeline for FY25, with new projects planned in Sectors 103, 43, and 54. In July 2023, the company was the highest bidder for two luxury group housing plots on Golf Course Road in Gurgaon. Recently, Godrej Properties also achieved significant sales success with its project Godrej Jardinia in Sector 146, Noida, where it sold 650 homes worth over Rs 20 billion. This launch, initiated in May 2024, is noted as the company?s most successful in Noida in terms of sales value. In addition, Godrej Properties recently acquired a 6.46-acre plot in Noida?s Sector 44, offering 1.4 million square feet of development potential and an estimated revenue potential of Rs 30 bilion. This land will feature premium residential apartments of various configurations. (ET)

Next Story
Equipment

Handling concrete better

Efficiently handling the transportation and placement of concrete is essential to help maintain the quality of construction, meet project timelines by minimising downtimes, and reduce costs – by 5 to 15 per cent, according to Sandeep Jain, Director, Arkade Developers. CW explores what the efficient handling of concrete entails.Select wellFirst, a word on choosing the right equipment, such as a mixer with a capacity aligned to the volume required onsite, from Vaibhav Kulkarni, Concrete Expert. “An overly large mixer will increase the idle time (and cost), while one that ..

Next Story
Real Estate

Elevated floors!

Raised access flooring, also called false flooring, is a less common interiors feature than false ceilings, but it has as many uses – if not more.A raised floor is a modular panel installed above the structural floor. The space beneath the raised flooring is typically used to accommodate utilities such as electrical cables, plumbing and HVAC systems. And so, raised flooring is usually associated with buildings with heavy cabling and precise air distribution needs, such as data centres.That said, CW interacted with designers and architects and discovered that false flooring can come in handy ..

Next Story
Infrastructure Urban

The Variation Challenge

A variation or change in scope clause is defined in construction contracts to take care of situations arising from change in the defined scope of work. Such changes may arise due to factors such as additions or deletions in the scope of work, modifications in the type, grade or specifications of materials, alterations in specifications or drawings, and acts or omissions of other contractors. Further, ineffective planning, inadequate investigations or surveys and requests from the employer or those within the project’s area of influence can contribute to changes in the scope of work. Ext..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?