-
ALSO READ
Weak Q1 cash flows, debt increase a worry for Godrej Properties
Godrej Properties net profit up 54% to Rs 55 cr, net income grows 13%
Will worries about rate hikes dent realty stocks?
Stock of this real estate company has more-than-doubled in 17 trading days
Housing sales witness 41% rise YoY in July-September: Anarock report
-
Godrej Properties has acquired around 9 acres of land in Haryana’s Gurugram, predicting a revenue potential of some Rs 2,500 crore in the residential project.
The project in Golf Course Road Extension will offer 1.6 million square feet of premium residential development, said the real estate firm in a statement without mentioning the deal’s price value and seller’s name.
Golf Course Road Extension is a premium location offering quality residential, corporate and retail parcels for realty developers.
“Gurugram is an important market for us and Golf Course Road Extension is an established and premium micro-market with good civic and social infrastructure. We aim to build premium residential spaces with best in class amenities,” said Gaurav Pandey, managing director and chief executive officer designate, Godrej Properties. The project will allow the company to increase its market share in Gurugram and strengthen its presence in key micro markets.
The company has been eyeing the National Capital Region (NCR) market, especially Haryana. Earlier this week, it bought about 62 acres of land in Kurukshetra for about Rs 100 crore to develop a plotted residential project with a revenue potential worth Rs 550 crore.
Godrej Properties, a part of Godrej group, is a dominant player in the real estate market with major focus on markets in Delhi-NCR, Mumbai Metropolitan Region (MMR), Bengaluru and Pune.
Subscribe to Business Standard Premium
Exclusive Stories, Curated Newsletters, 26 years of Archives, E-paper, and more!
Insightful news, sharp views, newsletters, e-paper, and more! Unlock incisive commentary only on Business Standard.
Download the Business Standard App for latest Business News and Market News .
First Published: Thu, December 29 2022. 16:42 IST
RECOMMENDED FOR YOU