Godrej Properties (GPL), the real estate arm of the Godrej Group, today announced its entry into the Faridabad market with its first residential plotted development. Spread across 43.61 acres (17.65 hectares), this land parcel has been acquired from BPTP.

This project will offer approximately 95,000 square meters (1 million sq. ft.) of plotteddevelopment potential offering attractive plot sizes along with good lifestyle amenities.

The site is strategically located and offers a well-developed social infrastructure with multiple schools, hospitals, and retail spaces in vicinity. This micro-market also has excellent road connectivity to both Delhi and Noida.

This is GPL's first project in Faridabad market and is also its first plotted development project within the National Capital Region (NCR). Godrej Properties has established itself as one of the market leaders in Gurgaon and Noida and hopes to replicate this success in other parts of NCR.

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

Shares of the company gained Rs 54.7, or 8.32%, to settle  at  Rs 711.85.  The total volume of shares traded  was  52,267 at  the BSE (Friday).