Godrej Properties Ltd. has sold over 1,050 homes worth over Rs 3,000 crore at its Gurugram project, Godrej Zenith, within a span of three days.
"This is Godrej Properties' most successful ever launch in terms of the value and volume of sales achieved. Godrej Zenith is GPL's largest residential development in Gurugram," the company said in an exchange filing.
Godrej Property's Gurugram focus has increased in the past year, with sales growing nearly five-fold in FY24, and a launch pipeline for FY25 which includes new project launches planned in Sector 103, Sector 43, and Sector 54.
"These planned launches will significantly strengthen GPL's presence in the city. This is the second time in Gurugram, and the fourth time pan India, that GPL has recorded sales of over Rs 2,000 crore during launch in FY24," the company said.
Earlier, it sold inventory worth over Rs 2,875 crore in its project, Godrej Aristocrat, located in Sector 49 on Golf Course Extension Road, Gurugram,
Godrej Zenith, located in Sector 89, Gurugram, sold really well, with smaller sizes running out first, according to Udit Bhandari, owner of luxury property consultant firm Gurugram Deals.
"The project sold out very quickly, because there was a dearth of smaller units in the market. There haven't been too many smaller launches. The lower ticket size 2 BHKs got sold out first, followed by the smaller 3 BHKs that are around 1700-1800 square feet. Godrej is still left with some bigger-sized 3 and 4 BHKs," Bhandari said.
He said the 2 BHKs started at around Rs 2.25 crore, making it a premium project, but not a luxury one. "It will come under the mid-segment only, it is quite a dense project."
The prime location of the project also played a big role in its success, he said. "The location of the land parcel is good, bang off Dwarka Expressway, and with connectivity to New Gurgaon and Manesar."
Shares of Godrej Properties Ltd. gained 6.5%, compared to a 2.4% rise in the Nifty Realty at 2:18 p.m.
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