Godrej Properties' presence in Ashok Vihar traces back to a land transaction that stood out even by Delhi's standards. The Mumbai-based developer acquired a property in Ashok Vihar from the Railway Land Development Authority for 1,359 crore, adding a new project to the residential market of Ashok Vihar, and with the land acquisition value at Rs 1,359 crores, this was one of the largest land transactions in India in recent times. The project is being planned as a luxury group housing development with an estimated built-up potential of 3.28 million sq. ft. Situated 11 kms from Connaught Place, Ashok Vihar is in the heart of Delhi and offers a rare opportunity to create a large and well planned modern development in such a desirable location, spread over 26.58 acres with approximately 3 lakh square metres of development potential.
This is only Godrej Properties' second project in Delhi city proper, after Godrej South Estate in Okhla. That distinction matters for how the Ashok Vihar site should be read: it is not an incremental addition to an existing Godrej cluster but a deliberate, large-format entry into North West Delhi, a part of the capital where large contiguous land parcels of this size rarely come up for sale, let alone from a government land authority through a competitive tender.
Godrej Properties is a publicly listed real estate developer, established in 1990 as a subsidiary of the 125-year-old Godrej Group. The company operates as a subsidiary of Godrej Industries Limited and is listed on both BSE (code: 533150) and NSE (ticker: GODREJPROP). Gaurav Pandey is the Managing Director and CEO of Godrej Properties.
The scale behind that listing has grown quickly in recent years. In FY2025-26, Godrej Properties' booking value grew 16 per cent year-on-year to 34,171 crore, from the sale of 17,515 units with a total area of 27 million square feet, up 5 per cent by volume. This was the highest ever full-year booking value and volume announced by any listed real estate developer in India to date. Godrej Properties retained its position as the country's largest listed developer by sales bookings for the year. Within that national performance, Delhi NCR alone contributed 7,410 crore of sales bookings last fiscal, behind only the Mumbai Metropolitan Region and Bengaluru. A land parcel the size of the Ashok Vihar site sits comfortably within a company operating at that volume, rather than stretching a smaller developer's balance sheet.
Ashok Vihar is one of North West Delhi's older planned residential colonies, and its appeal to a developer entering Delhi for only its second project lies in a combination of location and constrained supply. Ashok Vihar Phase 1 is a well-established locality in North West Delhi, where Ring Road and GT Karnal Road enhance connectivity, and the Keshav Puram and Shalimar Bagh stops on the Red and Pink metro lines are around 2 km away. The area is well connected via Ring Road, GT Road, and the Pink Line of Delhi Metro, with Ashok Vihar Metro Station making commuting easy.
Institutional and commercial anchors sit within a short radius of the locality. Delhi University's Satyawati and Laxmi Bai colleges are just 2 km away. Residents also have access to shopping and recreational hubs such as Shiv Market, Big Bazaar, Parsvnath Mall Inderlok, and DT City Center. Netaji Subhash Place commercial hub is around 4 km from the area, while Wazirpur Industrial Area lies only 1 km from the locality. This mix of a metro-linked address, an established university and college cluster, and nearby commercial employment is precisely the kind of location profile Godrej Properties has favoured for its central and south Delhi bets, including its Connaught One and South Estate developments.
Ashok Vihar's residential values have moved up meaningfully in the recent cycle. Average property price per square foot for apartments in Ashok Vihar appreciated 22.0% in the last one year. Flat prices in the locality currently range from roughly Rs 11,250 to Rs 16,500 per square foot, while land rates run around Rs 53,700 to Rs 71,000 per square foot. Builder floor prices sit in the Rs 16,800-25,900 per square foot band, having changed by close to 30% over the last three years and nearly 53% over five years. Demand for the locality is not purely residential appreciation either. A majority of the housing stock here is resale, and 3 BHK builder floors in the premium budget are in abundance, reflecting an established, low-vacancy market rather than a speculative one.
The Ashok Vihar land sits within a wider Delhi NCR portfolio that has grown around a handful of address-defining developments. Across Delhi NCR, the developer has established a footprint in premium South Delhi through Godrej South Estate and Godrej Prima in Okhla, and in Central Delhi through Godrej Connaught One, alongside ongoing Gurgaon projects targeting the NCR luxury buyer. One of the more prominent Godrej projects in the wider NCR market, Godrej Woods, is located in Sector 43, Noida, offering a mix of 2, 3, and 4 BHK apartments spread across 11 acres of green land. In Gurgaon specifically, the company runs a portfolio spanning Golf Course Road, Dwarka Expressway, Sohna Road and SPR, and New Gurgaon sectors.
Set against that spread, Ashok Vihar stands out for its scale and its rarity: a single contiguous parcel of nearly 27 acres inside Delhi's city limits, acquired directly from a central government land authority rather than assembled piecemeal, which is uncommon in a city where large builder inventory is typically confined to the outer NCR belt.
For a buyer evaluating Godrej Properties in Ashok Vihar, the relevant reference points are less about a single project brochure and more about what the developer has demonstrated at this scale elsewhere in Delhi NCR: metro-adjacent land selection, group-housing formats with layered amenities, and a listed company's reporting discipline around bookings, deliveries and cash flow. Godrej Properties delivered 12.1 million square feet of projects across nine cities in FY26, achieving 121% of its annual delivery guidance. That delivery record, combined with Ashok Vihar's existing metro and university-linked social infrastructure, is the practical basis on which the locality is being positioned as one of the developer's more closely watched North Delhi addresses.
