Realty firm Godrej Properties has entered the Faridabad property market.
Real estate company Godrej Properties has purchased 17.65 ha (43.61 acres) of land from Faridabad, Haryana, from local builder and real estate firm BPTP Ltd to increase its presence in the national capital region (NCR).
Godrej Properties will develop a residential plotting society, which offers around a million sq ft of development potential. This is the first plot development project in NCR and also the first project of Godrej Properties in Faridabad.
Pirojsha Godrej, Executive Chairman of Godrej Properties said that the company has established itself as one of the leading market leaders in Noida and Gurugram. Godrej Properties is hopeful that it will replicate this success in other parts of the NCR as well.
The Mumbai-based real estate company said in a statement that it has acquired 43.61 acres of land from BPTP. The developed plot of 1 million square feet will be sold in this project. Godrej Properties already has projects in Gurugram and Noida.
Godrej Properties will sell residential plots in various sizes along with certain amenities. The deal was signed by the company to expand its presence in the National Capital Region (NCR)
Executive Chairman of Godrej Properties, Pirojsha Godrej said that the new project is a major micro-market in Faridabad. The deal was in line with our strategy to strengthen our presence in major markets among India’s leading cities he added.
Godrej Properties acquired 27 acres of land at Ashok Vihar in the national capital for Rs 1359 from Railway Land Development Authority to develop a luxury housing project in February 2020.