Gurugram-based Godrej Properties has purchased nine acres of land.

NEW DELHI: Godrej Properties (GPL) announced an outright purchase of approximately 9 acres of land in Gurugram, Haryana, in a BSE filing. This project will include approximately 1.6 million square feet of luxury residential development.

The project’s revenue potential is estimated to be around Rs 2,500 crore.

In Kurukshetra, the company recently purchased approximately 62 acres of land outright. This project will provide approximately 1.4 million sq. ft. of residential development plotted.

It also formed a partnership with Neelkamal Realtors Tower (NRTPL) to develop property in Byculla Division, Mumbai, at Cadastral Survey No. 1906. The project is being created by the company through a special purpose vehicle, Godrej Residency (GRPL), in which the company will hold 50.01% and NRTPL will hold the remaining 49.99%.

It previously signed an agreement to develop 14.27 acres of land in Gurugram. The proposed development will primarily consist of premium residential apartments and has an estimated revenue potential of Rs 3,000 crore.