Godrej Properties bought 50 acres of property in Sonipat
Godrej Properties – Godrej Properties, a Mumbai-based developer, revealed on Tuesday that it has purchased approximately 50 acres of land in Sonipat, Haryana. According to the business, this project will provide around 1 million square feet of projected residential development.
The site is also connected to the Delhi border and national highways, according to the firm. It is also conveniently located near Sonipat’s future educational and industrial centre. According to the official news release, the Godrej Properties property in Sonipat also has a well-developed social infrastructure.
Godrej Properties buys land
“It gives us great pleasure to announce our arrival in Sonipat. The project is in line with our aim of expanding our footprint in the country’s most important real estate markets. “Sonipat as a micro-market has experienced a lot of infrastructure changes over the last couple of years and is likely to play a critical role in the NCR growth storey,” said Mohit Malhotra, MD and CEO of Godrej Properties.
Meanwhile, Godrej Properties plans to spend Rs 7,500 crore on purchase and development of new real estate projects over the next 12 to 18 months.
“We will invest $1 billion (approximately Rs 7,500 crore) on development of new projects over the next 12-18 months,” Godrej Executive Chairman Pirojsha Godrej told news agency PTI. These investments will be a mix of equity and debt, he noted.
By the value and volume of residential sales accomplished in FY21, Godrej Properties became India’s largest developer. It has a significant presence in Mumbai, Pune, Delhi-NCR, and Bengaluru.
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