Industry

Godrej Properties buys land worth ₹1,359 crore in Delhi

File photo: Pirojsha Godrej, executive chairman, Godrej Properties.

File photo: Pirojsha Godrej, executive chairman, Godrej Properties.   | Photo Credit: Shashi Ashiwal

It is one of the largest land transactions in the country

Godrej Properties Ltd. (GPL), in one of the largest land transactions in the country, has announced the purchase of 26 acres land in Ashok Vihar, Delhi for ₹1,359 crore. The company will build a residential project on the land.

The payment for this land will be made in instalments over several years as stipulated in the tender documents.

Situated 11 km from Connaught Place, Ashok Vihar is in the heart of Delhi and offers a rare opportunity to create a large and well-planned modern development in a desirable location.

Spread over 26.58 acres, this development will offer approximately 3 lakh square metres (3.28 million sq. ft.) of development potential and will be developed as a luxury group housing project offering world-class lifestyle amenities.

The site is surrounded by parks on three sides, offering stunning views, the company said.

This is GPL’s second project in Delhi after the launch of Godrej South Estate in Okhla in 2019.

Pirojsha Godrej, executive chairman, Godrej Properties said, “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.”

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Printable version | Apr 2, 2020 12:36:36 AM | https://www.thehindu.com/business/Industry/godrej-properties-buys-land-worth-1359-crore-in-delhi/article30840382.ece

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