Godrej Properties Ltd announced that it has acquired a land parcel measuring approximately 14.8 acres in Gurugram, Haryana. The company plans to develop a high-end residential housing project of approximately approx. 1.5 million sq. ft.
This project will be developed in partnership with Godrej Residential Investment Program II. This is the fourth project under GRIP II, the $275 million fund which was announced in March 2016.
Pirojsha Godrej, Executive Chairman, Godrej Properties said, “We are happy to add this new project in Gurugram. This fits well with our strategy of building our presence in the country's leading real estate markets. We look forward to delivering an outstanding project.”
Godrej Properties is currently developing residential, commercial and township projects spread across approximately 137.84 mn sq.feet in 12 cities.