Godrej Properties to develop 14.27-acre project in Gurugram
Dec 23, 2022
New Delhi [India], December 23 : Leading real estate firm Godrej Properties (GPL) on Friday announced that it will develop a project over 14.27 acres of land in Gurugram, Haryana.
The real estate company said in a statement, the proposed development on 14.27 acres of land would have an estimated revenue potential of about Rs 3,000 crore.
Though the real estate firm said it entered into an agreement for the development of land in Gurugram, Haryana, it hasn't ascertained the amount of the deal.
The development will predominantly comprise premium residential apartments, the statement shared with stock exchanges.
The real estate firm said it would be one of GPL's largest residential developments in Gurugram and it would significantly strengthen its presence in the city. The site is strategically located with easy access to National Highway 48 and Northern Peripheral Road.
Gaurav Pandey, Managing Director and Chief Executive Officer Designate, Godrej Properties, said, "We are pleased to announce the addition of this large and strategically important project in Gurugram. This project will allow us to significantly increase our market share in Gurugram over the next several years..."
In fiscal 2020-21 (FY21), Godrej Properties said it had emerged as the largest developer in India by the value and volume of residential sales achieved.
Godrej Properties has deeply focused on sustainable development, the firm said. In 2020,2021 and again in 2022, the Global Real Estate Sustainability Benchmark ranked GPL No. 1 globally amongst listed residential developers for its sustainability and ESG practices, it added.
