Godrej Properties acquires 4.95-acre land parcel in Noida for ₹331.75 crore
NEW DELHI: Godrej Properties has emerged as the highest bidder for a 4.95-acre residential land parcel in sector 151, Noida, in an e-auction conducted by the New Okhla Industrial Development Authority (NOIDA).
The company acquired the land parcel for ₹331.75 crore, as reflected on the e-tendering portal of HDFC Bank. NOIDA will issue the allotment letter after due process.
The land parcel measures 20,050 sq meters and will be developed as a residential group housing project. The proposed development is expected to generate revenue of over ₹2,000 crore.
The project will comprise premium residential apartments in different configurations.
Earlier this month, Godrej Properties had acquired a 23.2-acre residential land parcel in Greater Noida with estimated revenue potential of over ₹7,000 crore.
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