India, July 1 -- Godrej Properties has emerged as the highest bidder for a 4.95-acre residential land parcel in Sector 151, Noida, through an e-auction conducted by the New Okhla Industrial Development Authority (NOIDA).
The company acquired the land for Rs 331.75 crore and plans to develop a premium residential housing project with an estimated revenue potential of over Rs 2,000 crore, subject to the issuance of the allotment letter by NOIDA.
Strategically located near the Noida–Greater Noida Expressway and the upcoming Noida International Airport at Jewar, the project is expected to benefit from strong connectivity and developing social infrastructure.
Commenting on the acquisition, Gaurav Pandey, MD & CEO of Godrej Properties, s...