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Godrej Properties: The Mumbai-based real estate company bought the land in Sector 89 around two years ago from a local land-aggregating company.
Godrej Properties is reportedly in advanced discussions to sell a 14-acre land parcel in Gurugram to Hero Realty for around Rs 730 crore. The land was purchased by Godrej Properties two years ago and the sale is surprising. The deal is said to be at an advanced stage and both parties have agreed on the transaction. Hero Realty, backed by Hero Enterprise, has multiple projects in Gurugram and plans to launch real estate projects spanning around 4 million square feet in the current financial year.
According to the company report, the launch of Godrej Tropical Isle has been the most successful project in terms of sales volume and value.
The Godrej Tropical Isle project was launched in August 2023, only nine months after the company won the land through an e-auction conducted by the Noida Authority in November 2022.
The company paid Rs 28.21 crore in stamp duty for the transaction.