The true property developer stated it has immediately acquired 60 acres of land within the fast-growing micro market at Oragadam Bend in Chennai.
Protecting an space of roughly 60 acres, the proposed challenge has a developable potential of roughly 1.6 million sq. meters of salable space, which incorporates primarily residential improvement.
The positioning is strategically situated between the Grand Southern Expressway (GST Street) and NH-4, simply close to the Oragadam junction (on 6-lane SH-48), providing entry to different components of the town by way of the Chennai Ring Street, Chennai Thiruvallur Excessive. Street and Pink Hills Street.
Oragadam Junction is acknowledged as certainly one of Chennai’s quickest rising enterprise and main industrial corridors, with the manufacturing amenities of twenty-two Fortune 500 corporations situated within the industrial belt stretching from Sriperumbudur to Oragadam. The realm is nicely linked by highway and rail and gives good civic and social infrastructure consisting of colleges, schools, hospitals and purchasing retailers.
Gaurav Pandey, MD & CEO, Godrej Properties stated, “We’re delighted so as to add this plot to our portfolio. That is consistent with our technique to deepen our presence in India’s main cities. We purpose to create an excellently designed improvement challenge in Chennai that creates long-term worth for its residents.
Godrej Properties is engaged within the enterprise of actual property building, improvement and different associated companies. In FY 2021, the corporate emerged as the biggest residential developer in India by worth and quantity of residential gross sales.
The corporate’s consolidated web revenue rose 23.8% YoY to Rs 54.96 crore, with web gross sales up 27.7% to Rs 23.09 crore.
The scrip gained 0.31% and is at present buying and selling at Rs 1,241.15 on the BSE.
With the assistance of Capital Market – Dwell Information
(This story was not edited by Enterprise Commonplace workers and was generated routinely from the syndicated feed.)