Godrej Properties acquires 9 acres of land in Gurugram to develop premium residential space

5paisa Research Team 29th December 2022 - 12:55 pm

The project has an estimated revenue potential of about Rs 2,500 crore.

A subsidiary of Godrej Group and India’s one of the leading real estate developers acquires 9 acres of land to develop premium residential development in Gurugram, Haryana. The project will offer about 1.6 million square feet to develop premium residential space with best-in-class lifestyle amenities. According to the regulatory filing, the project has a revenue potential of approximately Rs 2,500 crore.

The regulatory filing of Godrej Properties also stated that this site is strategically located with easy access from golf course road extension, which is also known as southern peripheral road. Golf Course Road Extension is one of the most premium micro-markets of NCR offering quality residential, corporate and retail developments.

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. 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. This project will allow us to significantly increase our market share in Gurugram over the next several years and fits within our strategy of strengthening our presence in key micro markets”.

Earlier on December 26, 2022, Godrej properties informed that it has acquired 62-acre land in Kurukshetra, Haryana.

Today, the stock opened at Rs 1245.00 and made a high and low of Rs 1245.00 and Rs 1207. The stock previously closed at Rs 1232.60. Currently, the stock is trading at Rs 1209.80, down by 1.85%.

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5paisa Research Team

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