2024-08-17 12:46:04
New Delhi: The authority has received bids worth Rs 1,500 crore for 5 plots in Greater Noida. Their reserve price was Rs 738 crore. In this way, the authority has received twice the amount of the reserve price. Mumbai-based company Godrej Properties has placed the highest bid for two plots and Bengaluru-based Shobha Limited has placed the highest bid for one plot. Godrej Properties placed the highest bid of Rs 400 crore for a 38,771 square meter plot and Rs 442 crore for a 32,350 square meter plot. Shobha Limited has placed the highest bid of Rs 161 crore for a 13,938 square meter plot. Prasu Infrabuild has placed a bid of Rs 201 crore for a 28,265 square meter plot. Similarly, Ashtech Industries has won the bid for a 22,558 square meter plot for Rs 294 crore. Sachin Arora, founder of real estate consultancy firm Moneytree Realty, said that the aggressive bidding by the country’s top developer shows how much potential there is in the real estate market of Noida and Greater Noida. These projects will further improve the real estate market in this region. The demand of investors and end users is already increasing here. Shoma Limited has signed an agreement to develop two projects in Gurugram, but this will be its first project in Noida. Godrej Properties has registered a 473% increase in sales in Gurugram in FY 2024 compared to last year. Many of its projects are going to be launched in this financial year as well.
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Godrej Projects
In July 2023, Godrej Properties placed the highest bid for two luxury group housing plots in Gurugram’s Golf Course Road micro market. The company recently sold 650 flats in its project Godrej Jardinia located in Sector 146, Noida for around Rs 2,000 crore. This project, which will be launched in May 2024, is the company’s most successful launch so far in terms of sales in Noida. Recently, the company placed the highest bid for a 6.46-acre plot in Sector 44, Noida.