Godrej Properties has announced its expansion in the Gurgaon and Bangalore markets with the addition to two brand new housing projects. As per reports, these two projects will cover 1.6 million sq. ft. cumulatively in terms of saleable area. The real estate division of the Godrej Group confirmed that a new group housing project has been added to its portfolio in the Gurgaon realty market.
According to Godrej Properties, this project will be offering around 98, 000 square metres or approximately 1.05 million sq. ft. in terms of saleable area and will be developed in the form of a contemporary group housing project. This is the 11th project from Godrej Properties that is located within the NCR (National Capital Region) market where the company ventured around 5 years earlier.
According to the Executive Chairman at Godrej Properties, Pirojsha Godrej, these 2 new projects fit in nicely with the company’s strategy of expanding and consolidating its presence in the leading realty markets in India. He added that the company is also looking forwards towards delivering a top-notch project. The company also stated that it has already signed a development management agreement for a premium group housing project located along the Magadi Road in West Bangalore.
This project will have around 58, 000 square metres or approximately 6,00,000 sq. ft. of saleable area on offer for prospective homebuyers. The company also stated that this will be its very first project in the West Bangalore micro market and 11th project overall in Bangalore. Pirojsha Godrej also stated that Bangalore is a major market for the company and this new project also fits well in terms of the company’s strategy of boosting its presence across all these major markets in India. Godrej Properties has not revealed the names of land owners or companies with whom it has entered into a tie-up for developing these two new projects.
The company is presently developing commercial, residential and township projects, which cumulatively cover around 136.34 million sq. ft. over 12 cities.