The corporate stated within the regulatory submitting that it has acquired the land in Oragadam junction micro market on direct foundation.
Godrej Properties has acquired 60 acres of land in Chennai to develop a residential undertaking. The corporate stated within the regulatory submitting that it has acquired the land in Oragadam junction micro market on direct foundation. Nevertheless, the worth of the deal was not disclosed.
“The proposed 60-acre undertaking has a developable potential of roughly 1.6 million sq. ft of salable space, consisting primarily of residential growth,” it stated.
In accordance with Gaurav Pandey, MD and CEO, Godrej Properties, the land acquisition is in keeping with the corporate’s technique to deepen its presence in India’s main cities. “We goal to construct an excellently designed growth undertaking in Chennai that may create long-term worth for its residents,” he added.
Godrej Properties is a part of the Godrej Group, one of many main actual property builders within the nation. It primarily focuses on 4 cities. Delhi-NCR, Mumbai Metropolitan Area (MMR), Bengaluru and Pune.
The corporate is focusing on gross sales orders of Rs 10,000 crore for 2022-23 towards Rs 7,861 crore recorded within the final monetary 12 months. It has registered a 60 per cent progress in gross sales bookings within the first half of this monetary 12 months at Rs 4,929 crore in comparison with Rs 3,072 crore within the earlier 12 months.
Earlier final 12 months, Godrej Properties Govt Chairman Piroisha Godrej introduced that it will make investments $1 billion sooner or later growth of the tasks. As per the plan, the corporate has added about 12 land parcels with an estimated gross sales potential of over Rs 20,000 crore this monetary 12 months.
has pti inputs