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Godrej Properties adds four new residential projects

Friday, 13 Dec 2019
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Godrej Properties (GPL) has announced the addition of three new projects in the Mumbai Metropolitan Region (MMR) in the micro markets of Navi Mumbai, Ambernath, Thane, and one new project in North Bengaluru of Karnataka.

These new projects will add approximately 1.18 million sq mtr (12.70 million sq ft) to its development portfolio. GPL has entered into a joint venture (JV) to develop a township project of over 100 acre in the well-established and growing residential market of Navi Mumbai. This project will offer approximately 0.70 million sq mtr (7.50 million sq ft) of development area and will be developed as a residential development with a retail component.

The second project is a JV with Nisarg Nirman Developers to develop a land parcel of approximately 6.4 acre in the Ambernath, MMR. This project will offer approximately 0.10 million sq mtr (1.1 million sq ft) of development area and will be developed as a group housing project.

The third project is an outright purchase of land in Thane which is spread across approximately eight acre. This project will offer about 0.10 million sq mtr (1.10 million sq ft) of development area comprising primarily of residential apartments with some retail space.

The fourth project is a JV with the promoters of Universal Builders in KIADB Hardware Park, Bagalur, North Bengaluru. This project will be a modern affordable housing project of approximately 0.28 million sq mtr (three million square feet) across 22 acre of land. The site is on the main State Highway-104 and has good connectivity to the airport and several key hubs of Bengaluru.

 
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