Godrej Properties (GPL) has been declared the highest bidder and has secured the allotment letter to develop a land parcel in Noida through an e-auction conducted by the Noida authority.Spread over about 6.46 acres, the land is located in Sector 44 and will offer approximately 1.4 million sq ft of development potential and an estimated revenue potential of about Rs 3,000 crore.This will be company’s sixth project in Noida.
The company recently entered into definitive agreements to develop a township project in North Bengaluru under a profit-sharing model.
The estimated booking value from the project is expected to be about Rs 5,000 crore. Spread across approximately 62 acres, the project will offer about 5.6 million sq ft of saleable area comprising primarily residential apartments of various configurations.