In an auction, Godrej Properties Ltd bought two land parcels in Noida from the local authority for a residential project in an auction. The Godrej properties buy these two land parcels for Rs 377 crore.
In a statement, the Noida authority said the authority would gain Rs. 377 crores from an auction. This sale will attract Rs 2000 crore investment.
Godrej Properties acquired two land
Noida authority said in a statement that this auction would attract Rs 2000 crore investment, and Noida authority will gain Rs. 377 crores from this auction of two land parcels.
The Noida Authority held five bids or auctions for this two-land parcel, but Godrej Properties Ltd bid higher than another real estate group.
The authority received five bids for two plots, but Godrej Properties Ltd. has emerged as the highest bidder for both properties.
Golf Green mansions and DLF group did not participate in this auction, but these two companies were also shortlisted for the bidding of these two plots. Also, the land is spread over 25,000 square meters.
Godrej group will have to complete the land payment within three months.
After this auction, the Godrej group will have to complete the land payment within three months. The lowest price for each land was Rs 188 crore.
In the manor, Palghar, an agreement was assigned for buying 50 acres of plot in Palghar by Godrej Properties Ltd.
Also, the Godrej group acquired another land in Indiranagar, Bengaluru. The land is spread over approximately 7 acres. The estimated value of this land is Rs 750 crore.
This project will develop about 0.6 million square feet of saleable area.
In Mumbai, this Godrej company also bought or acquired 0.5 acres of landform KCT (Karam Chand Thapar) company.
This land was contracted to develop a luxury residential project on Carmichael Road in Mumbai with a booking value of approximately Rs 1,200 crore.