"Godrej Properties Becomes Top Bidder for Prime Land Parcels in Greater Noida"

Godrej Properties has secured the highest bid for two prime land parcels, with a combined bid value of ₹842 crore, in an e-auction conducted by the Greater Noida Industrial Development Authority (GNIDA). The auction was for Residential Group Housing Plots.

GNIDA will issue the allotment letters following the completion of the necessary procedures, according to a statement from Godrej Properties.

The parcels, located in Sector Sigma—III (9.5 acres) and Sector 12 (8 acres), are situated in key areas of Greater Noida. Together, they offer a development potential of 3.75 million square feet and are expected to generate over ₹5,000 crore in revenue through the development of premium residential apartments in various configurations.

Greater Noida's infrastructure, wide roads, and its proximity to Delhi, Noida, and the Jewar Airport enhance its appeal for high-quality living and connectivity.

In FY23, Godrej Properties acquired two parcels of 6.2 acres each in Sector 146, Noida. The first project, Godrej Tropical Isle, launched with a booking value exceeding ₹2,050 crore, marking it as the company’s largest launch at the time. The success of Tropical Isle led to the launch of Godrej Jardinia, which was sold out upon its release in Q1 of the current fiscal year, with a booking value of ₹2,375 crore. Together, these projects generated over ₹4,400 crore in just three quarters.

Godrej Properties Managing Director & CEO Gaurav Pandey expressed confidence in the new acquisitions, stating, “We have seen robust demand for our projects in the NCR market, reflecting the strong trust and confidence customers have in us. These new acquisitions will further enhance our development portfolio in the NCR region and address the high demand for our offerings.”

HBL