Realty firm Godrej Properties Ltd has bought an 11.36-acre land parcel in Gurugram for around Rs 1,000 crore to build a housing project, and it expects a revenue of more than Rs 4,500 crore from this upcoming development.
The company has also won a bid to acquire a 5-acre plot of land in Kolkata. It will build a housing project on this site and expects about Rs 1,650 crore in revenue.
In a regulatory filing on Wednesday, Godrej Properties informed that it has acquired 11.36 acres of land for a residential project in Gurugram, Haryana, through an outright purchase. "This project will offer residential development with an estimated revenue potential of over Rs 4,500 crore," it added.
The plot is located in Sector 63A on the Golf Course Extension Road.
Godrej Properties did not disclose the land cost or the name of the seller. However, market sources said that the land cost would be around Rs 1,000 crore. If you want to know more about this project read here: Godrej Properties acquires an 11 acre land parcel on Golf Course Extension Road in Gurugram