The new project will have an estimated booking value potential of approximately INR 1,000 crore*
Godrej Properties Ltd. (GPL), (BSE scrip id: GODREJPROP), one of India’s leading real estate developers, today announced that it has extended its existing arrangements with Shivam Realty to develop a residential group housing project, off Akurli crossroad at Hanuman Nagar, Kandivali, East.
This project is an extension of Godrej Tranquil and Godrej Nest and will offer approximately 7 Lakh square feet of saleable area. The project will be developed as a modern residential project comprising of apartments of various configurations. The land is strategically located with easy access to the Western Express Highway and offers a well-developed social and civic infrastructure with multiple schools, hospitals, retail malls, residential and commercial spaces in close proximity.
Mohit Malhotra, MD & CEO, Godrej Properties, said, “We are pleased to add this project to our portfolio. Kandivali is a developed micro-market and extending our existing projects in the location fits well with our strategy of deepening our presence in key micro markets across India.”
*On the basis of the current business assumptions.