Godrej Properties announced on June 30 that it had acquired a 43-acre land parcel in Panipat, Haryana, for a planned plotted development project that is expected to generate a revenue of over ₹1,250 crore. This marks the company’s debut in Panipat and its fourth residential plotted township in North India, Godrej Properties said in a regulatory filing on June 30.
The land is located in Sector 40, Panipat. This project will contain approximately 1.02 million sq ft of plotted residential development.
The company did not disclose the deal value.
"The subject plot, measuring approximately 43 acres, is located in Sector 40, Panipat. This project will contain approximately 1.02 million sq ft of plotted residential development, offering attractive plot sizes along with exceptional lifestyle amenities,” the company said in a statement on June 30.
According to the company, the site is accessible from the National Highway and is close to a host of social infrastructure.
"We are pleased to announce our entry into Panipat. The project fits well with our strategy of expanding into new markets for plotted development. Haryana has been a key market for us, and we look forward to developing a quality plotted township in Panipat, that creates long-term value for its residents," said Gaurav Pandey, MD and CEO, Godrej Properties.
{{/usCountry}}"We are pleased to announce our entry into Panipat. The project fits well with our strategy of expanding into new markets for plotted development. Haryana has been a key market for us, and we look forward to developing a quality plotted township in Panipat, that creates long-term value for its residents," said Gaurav Pandey, MD and CEO, Godrej Properties.
{{/usCountry}}