The big land rush is back in India10 min read 22 Dec 2022, 10:04 PM IST
Property sales have been good, prices are rising and developers are upbeat about demand. They are actively buying land again.
In November, Godrej Properties Ltd (GPL) bid for two land parcels along the Noida-Greater Noida Expressway. The New Okhla Industrial Development Authority (Noida for short) had launched the e-auction of its group housing scheme after six long years. Being the highest bidder, GPL snapped up both for ₹377 crore. Half a dozen other plots on the block fetched the authority around ₹2,700 crore. Interestingly, no Noida-based realtor was part of the bidding process, which warrants payment within 90 days of allotment.
Select your Category