Godrej jointly ventures in Pune real estate
Godrej Properties, one of the renowned names in Mumbai real estate, has jointly ventured in a project in Undri, Pune. The group is planning to develop a 1.5 million sq. ft residential project in Pune.
On April 1, 2013, the company entered into a new joint venture project in Undri, Pune. The project site spreads over 31 acres and is situated near National Institute of Bank Management (NIBM).
The company is planning to develop a residential housing project which will offer 1, 2 and 3 BHK apartments. The project will offer approximately 1.5 million sq. ft of saleable area to the company.
The completed projects of the company in Pune include Godrej Eternia, Godrej Castlemaine, Godrej Millennium and Godrej Sherwood. The ongoing project “ Godrej Horizon ” is also situated on the same proposed site, Undri.
The company is planning to get designs and approvals soon to launch the the first phase of proposed project within 12 months.
Also, recently it has launched its commercial project in Bandra Kurla Complex (BKC) recently. The project spread over 1.3 million square feet is expected to garner around Rs 3,500-Rs 4,000 crore.
The project called Godrej BKC is being developed under a joint development pact with Jet Airways. Godrej Properties has debt around Rs 500 crore now and with this project’s development, they are expecting a good revenue.
The total cost of the construction of the project is estimated around Rs 2,000-Rs 2,500 crore and would be constructed by engineering giant Larsen and Toubro.
The project would be sold at Rs 27,000-Rs 28,000 per square feet as confirmed by them.
Also, Godrej properties is planning to launch its ultra-luxury residential project named “Godrej Platinum” in the neighbourhood of Alipore, Kolkata.
The project will soon get the final approvals and is expected to launch in April or May 2013. The estimated cost of this premium residential project is around Rs 100 crore.
Godrej Properties Ltd (GPL) is the real estate development arm of the Godrej Group. The company is developing residential and commercial projects across 82 million square feet in 12 cities across the country.
Related Real Estate News:
Godrej Garden City- Affordable township project in Ahmedabad
Godrej properties to launch luxury residential project in Kolkata
Commercial property launched in Mumbai by Godrej Properties
Apartments in Mumbai, Bandra-Kurla Complex, BKC, Commercial Property, commercial property in Mumbai, Godrej BKC, Godrej Castlemaine, Godrej Eternia, Godrej Garden City, Godrej Group, Godrej Horizon, Godrej Millennium, Godrej Properties, Godrej Properties projects in Mumbai, Godrej Sherwood, Jet Airways, luxury projects in Mumbai, Mumbai, Mumbai Metropolitan Region Development Authority, Mumbai real estate, new residential projects in Mumbai, projects of Godrej Properties, Properties in Mumbai, Redevelopment projects in Mumbai
