Godrej Properties shares gain 2% as company acquires 62 acres of land in Kurukshetra

Shares of Godrej Properties rose 2 per cent in Monday's trade after the Mumbai-based developer said it has expanded its residential portfolio in NCR through the outright purchase of 62 acres of land in Kurukshetra, Haryana.

In a filing to BSE, Godrej Properties said it has acquired approximately 62 acres of land in Kurukshetra, Haryana. The project will offer approximately 1.4 million square feet of plotted residential development, offering attractive plot sizes along with exceptional lifestyle amenities.

The site is strategically located with access from National Highway 44, the company said,

Following the development, the stock rose 2.3 per cent to hit a high if Rs 1,200.

Kurukshetra is a self-sufficient city with good infrastructure consisting of schools, colleges, hospitals and has significant historical and religious importance," it said.

Gaurav Pandey, MD & CEO Designate, Godrej Properties, said, “We are pleased to announce our entry into Kurukshetra. Haryana has been a key market for us and we look forward to further strengthen our presence in Haryana with this project. We will aim to build an outstanding residential community that creates long term value for its residents," it said.

Earlier on December 23, the company said  it has entered into an agreement for development of 14.27 acres of land in Gurugram, Haryana. The development will comprise predominantly of premium residential apartments.

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