Godrej Properties buys 44 acres of land in Haryana's Faridabad from BPTP

Realty firm Godrej Properties on Friday said it has acquired 43.61 acres of land in Faridabad, Haryana, from local builder BPTP to expand its presence in the national capital region (NCR).

The company did not disclose the deal value.

Godrej Properties has entered the Faridabad property market with the acquisition of this land parcel. The company will sell plots in this project.

"Spread across 43.61 acres (17.65 hectares), this land parcel has been acquired from BPTP," the company said in a statement.

This project will offer about 1 million sq ft of plotted development.

This new project in Faridabad is a key micro-market within NCR, said Pirojsha Godrej, Executive Chairman, Godrej Properties, adding "this fits well with our strategy of deepening our presence in key markets across India's leading cities."

This is Godrej Properties first project in Faridabad market and also its first plotted development project within NCR.

Godrej Properties said the company has established itself as one of the market leaders in Gurgaon and Noida and hopes to replicate this success in other parts of NCR.

In February this year,Godrej Properties acquired nearly 27 acre land parcel at Ashok Vihar in the national capital for Rs 1,359 crore to develop luxury housing project.