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Godrej Properties announced that it had purchased approximately 62 acres of land in Kurukshetra, Haryana, to develop a plotted residential project. The company stated that this project would provide approximately 1.4 million square feet of plotted residential development.
The total deal value of this land parcel was not disclosed by the company. Kurukshetra is a self-sufficient city with good infrastructures, such as schools, colleges, and hospitals, as well as historical and religious significance.
Godrej Properties has entered Kurukshetra, according to Gaurav Pandey, MD & CEO of Godrej Properties. He said that, Haryana is a key market for every real estate developer, so we are excited to strengthen our presence in Haryana with this project.
Godrej Properties purchased 18.6-acre land in Kandivali, Mumbai, earlier this month in order to develop a premium housing project with an estimated sales revenue of Rs 7,000 crore.
Recently, the company collaborated with the landowner to develop 14.27 acres of land in Gurugram, Haryana. It anticipates a sales revenue of around Rs 3,000 crore from developing a housing project on this land.
Godrej Properties purchased two adjacent land parcels totaling 12.4 acres in Noida last month for Rs 377 crore. Godrej Properties is aggressively expanding to meet rising housing demand. It is purchasing land outright and collaborating with landowners to develop new projects.
Godrej Properties Executive Chairman Pirojsha Godrej stated earlier this month that the company has already exceeded its full-year guidance of Rs 15,000 crore in terms of new business development.
“Given strong further visibility, we will end the fiscal year 2022-2023 much ahead of target,” he said. The addition of this project in Kurukshetra brings the company’s total project value this fiscal year to more than Rs 20,000 crore.
Godrej Properties, a subsidiary of the Godrej Group, is one of the country’s leading real estate developers. It is primarily concerned with four cities: Delhi-NCR, Mumbai Metropolitan Region (MMR), Bengaluru, and Pune.
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