Godrej sells Rs 2,000 crore worth of homes at Noida luxury project launch

Third consecutive Rs 2,000 crore-plus launch for the developer in the city

Godrej Properties sold 275 homes worth over ₹2,000 crore at the launch of its luxury project, Godrej Riverine, in Sector 44, Noida. The Mumbai-based real-estate developer sold over 9 lakh square feet (sq ft) area in the project, it said in a statement on Tuesday.

 

This is the third consecutive ₹2,000 crore launch for Godrej Properties in Noida. The company had previously sold inventory of over ₹2,000 crore in Godrej Jardinia, Sector 146, Noida in the first quarter of 2024-25 and in Godrej Tropical Isle, Sector 146, Noida in the second quarter of 2023-24.

 

Godrej Riverine is spread over 6.46 acres, comprising luxury residential apartments of varied configurations.

 

Gaurav Pandey, managing director and chief executive officer, Godrej Properties, said, “We are delighted with the overwhelming response to our luxury project, Godrej Riverine in Noida. Noida is a key market for us, and we look forward to further strengthening our presence in the region in the years ahead.”

 

According to Square Yards Data Intelligence, homes are being sold at an average rate of ₹16,224 per sq ft in Noida’s Sector 44. The average rentals for 1 BHK homes in the area hover around ₹11,600-13,900.

 

In March, the company sold 90 homes worth over ₹1,000 crore on the day its luxury project, Astra, was launched in Gurugram.

 

The same month, the company sold homes worth over ₹1,000 crore with a total area of about 0.84 million sq ft in its Godrej Madison Avenue project in Kokapet, Hyderabad.

 

In February, the company sold inventory worth over ₹1,000 crore in Godrej Evergreen Square in Hinjewadi, Pune.

 

The company’s sales in the third quarter of 2024-25 declined by 4.8 per cent year-on-year to ₹5,446 crore. The company said that despite the decline it delivered sales of more than ₹5,000 crore for the sixth consecutive quarter. On a quarterly basis, sales were up by 4.8 per cent.