Real estate developer Godrej Properties has purchased about 15 acres of land in Sector 103 of Gurugram. This property has been purchased from Microtek Infratech at an agreement value of Rs 403 crore.
This information has come from a document accessed by real estate data analytics firm CRE Matrix. This sale has been executed in the name of Godrej Westmark LLP on June 22, 2023.
Company paid Rs 28.21 crore stamp duty
Documents show that the company has paid stamp duty of Rs 28.21 crore for the transaction. However, there is currently no response from Godrej and Microtech regarding this news. This 14.8 acre land is located near Daulatabad village in Sector 103 of Gurugram.
Mumbai-based real estate company Godrej said in a filing to stock exchanges on September 22 that the land was acquired through outright purchase. However, the company has not given information about the potential revenue from the project to be built on the newly acquired land.
12.4 acres of land was purchased in November 2022
In November 2022, the company said it had bought two adjacent land parcels of 12.4 acres in Noida for Rs 377 crore. This purchase was done by Noida Authority through auction. Godrej will develop residential group housing on a land parcel located in Sector 146, Noida.
Earlier, Godrej had acquired nine acres of land in Gurugram in December 2022 through outright purchase for a premium residential project. Godrej Properties is also developing luxury homes on Golf Course Road in Gurugram with a revenue potential of Rs 3,100 crore.
