Godrej Properties, Lodha acquire over 25 land parcels

New Delhi: Godrej Properties Ltd and Lodha Developers Ltd are bullish on India's housing demand, as both realty firms have acquired more than 25 land parcels so far this fiscal year to develop residential projects with a combined revenue potential of more than Rs1 lakh crore.

According to an investors' presentation, Lodha Developers acquired 11 land parcels across Mumbai Metropolitan Region (MMR), Delhi-NCR, Pune, and Bengaluru during the first nine months of this fiscal year to develop housing projects.

These 11 land parcels acquired by the Lodha Group have an estimated saleable area of 20.6 million sq ft and expected sales value of Rs58,800 crore. Similarly, Godrej Properties, too, is aggressively acquiring land parcels across tier-I and II cities for group housing and residential plotted development projects.

Godrej Properties has acquired nearly 20 land parcels so far this fiscal year to develop housing projects worth Rs42,000 crore.

In the first nine months of this fiscal year, Godrej Properties acquired 12 land parcels to develop housing projects, with an estimated saleable area of 22.36 million sq ft and expected booking value of Rs24,650 crore, as per its investors presentation.