Introduction
Godrej Properties, a renowned real estate developer, has won the bid for a 6.4-acre group housing plot in Noida. This strategic acquisition is likely to pave the way for a new residential project in the area.
Listed real estate developer Godrej Properties has bid for a 6.45-acre group housing plot in Noida. At the total auction value of Rs. 506 crores as the highest bidder, said a Noida Authority official.
A Mumbai-based developer will develop residential group housing on a land parcel located in Sector 44, Noida. The Noida Authority has put up a housing plot of over 26,000 square meters for sale through e-auction in December 2023.
Godrej Properties Rs. 506 Crores Won the Bid For The Plot
“There were 2 bids against the housing plot measuring 26,136.55 sq. m. or 6.45 acres. Two developers, including Godrej Properties and Max Estates, have applied to purchase a group housing plot in Sector 44. In the e-auction held on February 26, Godrej fetched the highest bid of Rs. 506 crores and won the bid for the plot.” Said a senior Noida Authority official familiar with the development.
Officials announced that the allotment letter in the name of Godrej Properties will be issued. He said Godrej Properties will have to make full payment for the land within 90 days from the date of the allotment letter.
November 2022, Godrej company won 2 adjacent land parcels in Sector 146, Noida. The total auction value of the e-auction is Bought for 377 crores. These lands are spread over 12.5 acres. After acquiring these plots, the company said it has a development capacity of around 3.2 million square feet.
Conclusion
Listed real estate developer Godrej Property bagged the highest bid for a 6.45-acre group housing plot in Noida. The total bid value is ₹506 crore. This plot, spanning 26,000 square meters, is situated in Sector 44, Noida. A residential group housing project is set to be established on this valuable land. For more information, visit Openplot.
Also Read: Godrej Properties Buys 12.5-acre Land in Hyderabad