Godrej Properties to develop a Residential Group Housing project in Gurugram, Haryana

The proposed development on 14.27 acres of land will have an estimated revenue potential of approximately INR 3,000 Cr

by Shrutee K

Mumbai, December 23, 2022: Godrej Properties Ltd. (GPL), (BSE scrip id: GODREJPROP), one of India’s leading real estate developers, today announced that it has entered into an agreement for development of 14.27 acres of land in Gurugram, Haryana. The development will comprise predominantly of premium residential apartments. This will be one of GPL's largest residential developments in Gurugram and significantly strengthens its presence in the city. The site is strategically located with easy access to National Highway 48 and Northern Peripheral Road.

Gaurav Pandey, MD & CEO Designate, Godrej Properties, said, “We are pleased to announce the addition of this large and strategically important project in Gurugram. This project will allow us to significantly increase our market share in Gurugram over the next several years and fits within our strategy of deepening our presence across key real estate micro-markets. We will aim to build an outstanding residential community that creates long term value for its residents”

On the basis of the current business assumptions.

About Godrej Properties Limited:Godrej Properties brings the Godrej Group philosophy of innovation, sustainability, and excellence to the real estate industry. Each Godrej Properties development combines a 125-year legacy of excellence and trust with a commitment to cutting edge design, technology, and sustainability. In FY 2021, Godrej Properties emerged as the largest developer in India by the value and volume of residential sales achieved.

Godrej Properties has deeply focused on sustainable development. In 2010, GPL committed that all of its developments would be third party certified green buildings. In 2020,2021 and again in 2022, the Global Real Estate Sustainability Benchmark ranked GPL #1 globally amongst listed residential developers for its sustainability and ESG practices. In 2017, GPL was one of the founding partners of the Sustainable Housing Leadership Consortium (SHLC), whose mission is to spread sustainable development practices across the Indian real estate sector. In recent years, Godrej Properties has received over 300 awards and recognitions, including the Porter Prize 2019, The Most Trusted Real Estate Brand in the 2019 Brand Trust Report, Builder of the Year at the CNBC-Awaaz Real Estate Awards 2019, and The Economic Times Best Real Estate Brand 2018.