Godrej Properties Wins ₹842 Crore Bid for Prime Greater Noida Land

Godrej Properties has emerged as the top bidder for two prime residential land parcels in Greater Noida, securing them with a combined bid of ₹842 crore in a recent e-auction by the Greater Noida Industrial Development Authority (GNIDA). The properties, located in Sector Sigma—III (9.5 acres) and Sector 12 (8 acres), promise significant development potential, with plans to deliver around 3.75 million square feet of premium residential space.

The new acquisitions are expected to generate over ₹5,000 crore in revenue from the development of high-quality residential apartments. Greater Noida’s well-developed infrastructure, including wide roads and proximity to Delhi, Noida, and the upcoming Jewar Airport, makes these parcels highly attractive for upscale residential projects.

In a notable comparison, Godrej Properties previously acquired two parcels in Sector 146, Noida, in FY23. The projects, Godrej Tropical Isle and Godrej Jardinia, together amassed over ₹4,400 crore in bookings within three quarters, highlighting the company’s strong market presence and successful track record in the region.

Gaurav Pandey, Managing Director & CEO of Godrej Properties, expressed enthusiasm about the new acquisitions, noting the high demand and customer trust in the NCR market. The new land parcels will significantly bolster Godrej’s development portfolio and cater to the growing demand in the region.

With these strategic acquisitions, Godrej Properties is set to continue its growth trajectory and enhance its footprint in the burgeoning NCR real estate market.

News by Rahul Yelligetti