NEW DELHI: Godrej Properties (GPL) has been declared the highest bidder for two adjacent land parcels in Noida for a total bid value of Rs 377 crore, according to the e-tendering portal of SBI, which facilitated an e-auction on behalf of New Okhla Industrial Development Authority (NOIDA), the company said in a media release.
GPL will develop residential group housing on the land parcels located in Sector 146, Noida. Spread over 12.4 acres, the two adjacent land parcels will offer approximately 3.2 million sq ft of development potential.
The company recently acquired a 12-acre land parcel in Mundhwa-East, Pune. This project will have a developable potential of approximately 2.2 million sq ft with an estimated revenue potential of approximately Rs 2,000 crore.