A leading real estate developer has emerged as the highest bidder and secured the letter of intent to develop two group housing plots in Gurugram through an e-auction conducted by the local development authority. The combined bid value for both plots is Rs 515 crore.
The first plot, measuring 3.6 acres, is located on Golf Course Road, while the second plot of 1.97 acres is in Sector 39. Together, the land parcels offer a development potential of over 1 million sq ft and an estimated revenue potential exceeding Rs 3,400 crore.
In the previous fiscal year, the developer acquired two prime parcels totaling 7.91 acres on Golf Course Road through auctions and plans to launch these projects in the current fiscal year. The company also recently won auctions for two additional land parcels in Greater Noida.
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