Godrej Properties wins bid for group housing plot for ₹506 crore in Sector 44, Noida

Godrej Properties has won the bid for a 6.45-acre group housing plot in Noida for a total bid value of ₹506 crore, Lokesh M, CEO, Noida Authority confirmed

Published on: Feb 26, 2024, 23:02:25 IST

By HT News Desk

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Listed real estate developer Godrej Properties has won the bid for a 6.45-acre group housing plot in Noida for a total bid value of ₹506 crore, Lokesh M, chief executive officer of the Noida Authority confirmed to HT on February 26.

Godrej Properties wins bid for group housing plot for ₹506 crore in Sector 44, Noida, (HT Archive) (Picture for representational purposes only)

The real estate firm will develop the group housing plot measuring more than 26000 sq m located in Noida’s premium sector 44. The land parcel was put up for sale by Noida Authority through an e-auction in December 2023.

Also Read: 7 things you need to know about Greater Noida Authority’s group housing plot scheme

“Two bids were received by Noida Authority for the group housing plot measuring 26,136.55 square metres or 6.45 acres located in Sector 44, Noida. Two developers including Godrej Properties and Max Estates had applied for the bid. During the e-auction today (February 26), Godrej made the highest bid at ₹506 crore and won the bid for the plot,” said Sanjay Kumar Khatri, additional chief executive officer of the Noida authority.

Also Read: 7 things real estate investors should keep in mind before buying property in Greater Noida and Noida

The Noida authority CEO Lokesh M said that they have processed the allotment letter to Godrej properties as per the rules.

"That's a good news that the authority has been able to sell the plot at a good price and the consumer will get better quality product," said Lokesh M, CEO of the Noida authority.

There was no immediate response from Godrej Properties.

Also Read: Godrej Properties acquires a 12.5-acre land parcel in Hyderabad; eyes revenue potential of ₹3500 crore

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