Godrej Properties forms Joint venture to construct residential project in Pune
The company said that the real estate developer Godrej Properties has formed joint venture to develop a residential project at Keshavnagar in Pune. This project will be spread over 43 acres and provide nearly 2.8 million sq ft of saleable area.
As mentioned in the agreement, the Godrej Properties will receive 35 percent of the profit. The real estate development wing of Godrej Group will be developing the project as the luxury residential project.
Mr. Pirojsha Godrej, MD & CEO, Godrej Properties, says that this project is good for us to enter in residential development. The project is in good location and is within India’s biggest real estate market. In last few years, Godrej Properties developed some very good projects in Pune and this project is eighth project in Pune.
Recently, the shares of Godrej Properties closed at Rs 186.60 on the Bombay Stock Exchange with the increase of 2.4 percent.
Source: The Economic Times
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