Godrej Properties Buys 27-acre Land In Delhi For Rs 1,359 Cr
New Delhi: Mumbai-based Godrej Properties has announced it has acquired a 27-acre land in Delhi for Rs 1,359 crore for a luxury housing project. The project will have a built up area of about 3.28 million square feet. The land has been acquired from Railway Land Development Authority.
The land parcel lies in Ashok Vihar locality of Delhi and will have company’s second residential project in Delhi. The first one is in Okhla called ‘Godrej South Estate’ which was launched in 2019.
Godrej Properties will pay for this piece of land in installments over the next several years, as per the tender documents.
"We believe this project in central Delhi is one of the most exciting projects in our development portfolio and will contribute significantly to the growth of our business in NCR. We will seek to ensure a landmark project that delivers an outstanding lifestyle for its residents", said Pirojsha Godrej, Executive Chairman, Godrej Properties in a statement.