Godrej Properties is reportedly in advanced discussions to sell a 14-acre land parcel in Gurugram to Hero Realty for around Rs 730 crore. The land was purchased by Godrej Properties two years ago and the sale is surprising. The deal is said to be at an advanced stage and both parties have agreed on the transaction. Hero Realty, backed by Hero Enterprise, has multiple projects in Gurugram and plans to launch real estate projects spanning around 4 million square feet in the current financial year.
The Godrej Tropical Isle project was launched in August 2023, only nine months after the company won the land through an e-auction conducted by the Noida Authority in November 2022.