Godrej Properties on Thursday announced its decision to strengthen its presence in Kandivali, Mumbai with new housing project at an estimated booking value potential of approximately ₹1,000 crore.
As per the company filing, Godrej Properties Ltd. one of India’s leading real estate developers, today announced that it has extended its existing arrangements with Shivam Realty to develop a residential group housing project, off Akurli crossroad at Hanuman Nagar, Kandivali, East.
It is worth noting that this project is an extension of Godrej Tranquil and Godrej Nest and will offer approximately 7 Lakh square feet of saleable area. “The project will be developed as a modern residential project comprising of apartments of various configurations," as per the company filing. The land is strategically located with easy access to the Western Express Highway and offers a well-developed social and civic infrastructure with multiple schools, hospitals, retail malls, residential and commercial spaces in close proximity.
Mohit Malhotra, MD and CEO, Godrej Properties, said, "we are pleased to add this project to our portfolio. Kandivali is a developed micro-market and extending our existing projects in the location fits well with our strategy of deepening our presence in key micro markets across India."
In financial year 2021, Godrej Properties emerged as the largest developer in India by the value and volume of residential sales achieved.
