Godrej Properties acquires nine acres of land Gurugram

NEW DELHI: Godrej Properties (GPL) has acquired approximately 9 acres of land in Gurugram,
Haryana through an outright purchase, the company said in a BSE filing. This project will offer
approximately 1.6 million sq ft of premium residential development.
The project will have an estimated revenue potential of approximately Rs 2,500 crore.
The company recently acquired approximately 62 acres of land through outright purchase
in Kurukshetra. This project will offer approximately 1.4 million sq. ft. of plotted residential
developments.
It also entered into a joint venture with Neelkamal Realtors Tower (NRTPL) for development of
property situated at Cadastral Survey No. 1906 of Byculla Division, Mumbai. The project is
being developed by the company through a special purpose vehicle, viz, Godrej Residency
(GRPL), wherein the company will hold 50.01% and the balance 49.99% will be held by NRTPL.
It had previously entered into an agreement for development of 14.27 acres of land in
Gurugram. The proposed development will comprise predominantly of premium residential
apartments and will have an estimated revenue potential of approximately Rs 3,000 crore.