Godrej Properties to develop over hundred acres in Panvel
The Godrej Group’s real estate development arm, Godrej Properties, has announced that it has entered into an agreement to develop approximately 110 acres of land in Panvel.
Godrej has entered into a profit sharing joint venture structure for this project where GPL will receive 35 per cent of the profits from the development.
The project will have an estimated saleable area of 3.5 million square feet. It is expected to be launched next year and its estimated project duration is six years.
The project is located between NH4 and the Mumbai – Pune Expressway. It will be easily accessible from both these highways.
The project is in close proximity to the proposed second International Airport in Panvel, the Jawaharlal Nehru Port Trust, and the proposed Sewri – Nhava Seva Trans Harbor Link.
The strategic location near several major existing and upcoming infrastructure facilities makes Panvel one of the most exciting real estate locations in India.
To read more real estate news:
Bureaucrat sets right construction approval system
Godrej Properties shares up over 7%
Source: My iris
Agreement, expressway, Godrej Group, Godrej Properties, Harbor, Highways, International Airport, Jawaharlal Nehru Port Trust, Mumbai, NH4, Panvel, Pune, Real estate development
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