Godrej Properties Ltd (GPL) has bought a 43.61-acre land parcel in Faridabad from real estate firm BPTP Ltd. This marks Mumbai-based GPL’s entry into the Faridabad property market, helping it expand its presence in the National Capital Region (NCR).
GPL will develop a residential plotted project on the land, which offers around a million sq ft of development potential. Like most plotted projects, GPL will sell plots in various sizes along with certain amenities. The value of the land transaction was not disclosed. This is GPL’s first plotted development project in NCR. The real estate developer already has projects in Gurugram and Noida.
‘We are happy to add this new project in Faridabad, a key micro-market within NCR. This fits well with our strategy of deepening our presence in key markets across India’s leading cities,’ said Pirojsha Godrej, executive chairman, GPL.
GPL has been steadily expanding its project portfolio in NCR. In February, it had said it will acquire a 26-acre land parcel in Delhi’s Ashok Vihar for Rs 1,359 crore from Railway Land Development Authority. It has plan to develop a luxury group of a housing project on it.
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