The 12.4 acre land, comprised of two adjacent land parcels, will have an estimated developable potential of approximately 3.2 million square feet

New Delhi : Godrej Properties Ltd. (GPL), (BSE scrip id: GODREJPROP), one of India’s leading real estate developers, today announced that it has been declared the highest bidder for two adjacent land parcels in Noida for a total bid value of INR 377 crore, according to the e-tendering portal of SBI, which facilitated an e-auction on behalf of New Okhla Industrial Development Authority (NOIDA).

GPL will develop residential group housing on the land parcels located in Sector 146, Noida. Spread over 12.4 acres, the land parcels will offer approximately 3.2 million square feet of development potential comprising primarily premium residential apartments of varied configurations.

Mohit Malhotra, MD & CEO, Godrej Properties, said, “We have witnessed strong demand for our existing projects in Noida and these projects will further strengthen our development portfolio in NCR (National Capital Region).  This fits well with our strategy of deepening our presence in key micro markets across India’s leading cities.”