Godrej Properties Buy A 15-Acres Land In Gurugram From Microtek For Rs 403 Crore

Godrej Properties Buy A 15-Acres Land In Gurugram From Microtek For Rs 403 Crore

Godrej Properties purchased around 15 acres of land in Gurugram Sector 103 for a net value of Rs 403 crore from Microtek Infratech. The news confirmed by CRE Matrix, a real estate data analytics business provider.

The sale deed was signed in the name of Godrej Vestmark LLP On June 22, 2023. According to the paperwork, the company also paid a stamp duty of Rs 28.21 crore for the transaction.

Godrej and Microtek did not respond about any upcoming developments. The 14.8-acre land tract is located near Daulatabad area in Sector 103 Gurugram.

The Mumbai-based real estate firm Godrej Properties, claimed in a stock exchange filing on September 22 that the site was purchased outright. The corporation, however, has not mentioned the revenue potential of the project that will be built on the newly purchased Gurgaon land.

Godrej properties also announced the purchase of two neighboring land parcels totaling 12.4 acres in Noida for Rs 377 crore in November 2022. The Noida Authority made this land purchase through an auction. Godrej group will construct residential group housing on land parcels in Noida’s Sector 146.

Previously, Godrej had purchased nine acres of land parcel in Gurugram outright in December 2022 for a premium housing project. Godrej Properties is also building premium housing project on Golf Course Road, Gurugram, with a revenue potential of Rs 3,100 crore.

Godrej Properties is a division of the Godrej Group, considered as the country’s largest real estate developers. It primarily develops residential developments in Delhi-NCR, Mumbai Metropolitan Region (MMR), Bengaluru, and Pune.

Source- Moneycontrol

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