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Godrej Properties Sells 670 Apartments Worth Rs 2,000 Crore In Noida Housing Project – News18

Curated By: Business Desk

Last Updated: September 26, 2023, 18:33 IST

The housing project of Godrej Properties was started last month.

According to the company report, the launch of Godrej Tropical Isle has been the most successful project in terms of sales volume and value.

Godrej Properties, the real estate development arm of the Godrej Group has sold 670 apartments worth over Rs 2,000 crore in its newly launched housing project located in Sector 146 of Noida, Uttar Pradesh. According to the company, the launch of Godrej Tropical Isle has been the most successful project in terms of sales volume and value. The project was started in August after the company won the land through an e-auction conducted by the Noida Authority in November last year.

Gaurav Pandey, the MD and CEO of Godrej Properties, said that Noida is an extremely important market for Godrej Properties and they will look further to strengthen the company’s presence in the area in the coming years.

Sector 146 in Noida is a preferred residential area because of its strategic location close to social and commercial centres such as the Noida Special Economic Zone (SEZ), entertainment hubs and Film City. Along with this, it has good connectivity to different parts of Delhi, which makes it a perfect location for those who are looking for a residential property in Delhi-NCR.

Godrej Properties, on September 24 also bought 15 acres of land in Sector 103 of Gurugram, Haryana, for Rs 403 crore from Microtek Infratech.

Last year, in December, Godrej Properties acquired a nine-acre land parcel in Gurugram for a premium residential project. The real estate company is currently developing luxury homes at Golf Course Road in Gurugram with a revenue potential of Rs 3,100 crore.

Godrej Properties is one of the leading real estate developers in the country. It mainly focuses on Delhi-NCR, Mumbai, Bengaluru, Pune and other metropolitan regions for the development of residential projects. The company is expecting 14 per cent growth in sale bookings this fiscal year to a record Rs 14,000 crore.

According to company records, the total income of the first quarter of this fiscal has increased to Rs 1,265.98 crore from Rs 426.40 crore in the corresponding period of the previous year.

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