The premium residential project in Mahalaxmi, Mumbai, is awarded the highest rating for a real estate project by CRISIL
Godrej Properties Ltd. (GPL) (BSE scrip id: GODREJPRP) today announced that its project Planet Godrej, has received the “Mumbai - 7 Star” rating from CRISIL. This is the highest rating awarded by the premier rating agency for a project.
CRISIL rates real estate projects based on several stringent project-specific parameters like, sponsor quality, construction quality, legal quality, financial quality and innovativeness. This multi-level process involves document verifications, in-depth interviews with the company officials, project architects, vendors, contractors and site inspections. Based on this, CRISIL’s Real Estate City Star Ratings are assigned to the projects between “Non deliverable project” to “7 Star”.
Planet Godrej, a premium high-rise residential project, adorning the Mumbai skyline, comprises of five towers, each 48 storey high. The footprint, i.e., the ground coverage of the constructed portion of the project (towers 1 to 5), comprises approximately 4.2% of the total plot area, while the rest of the plot area has been used to provide outstanding landscaping and facilities like a large podium, a modern gymnasium, gardens, a clubhouse, pools and game courts.
This project has won several accolades like the “Pinnacle Award, 2006” by ZEE Business for being the best up-coming real estate project in India, the “Project of the Year – Mumbai” for the year 2007 by the Accommodation Times and the “Best Residential Project in Western Region” award at the CNBC AWAAZ-CRISIL-CREDAI Real Estate Awards 2009.
Mr. Milind Korde, Managing Director, Godrej Properties said, “We are very pleased to get the Mumbai - 7 Star rating for our project. This initiative by CRISIL is extremely commendable and will go a long way in providing benchmarks for customers to select projects and in enhancing professionalism in the real estate industry. I am also happy that Planet Godrej has lived to its reputation of being one of the best projects in the country”.
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About Godrej Properties Ltd.:
Established in 1990, Godrej Properties Limited (GPL) brings the Godrej Group philosophy of innovation and excellence to the real estate industry. GPL aspires to be among India’s top three real estate companies while continuing to be the most trusted name in the industry. GPL has completed several landmark projects and is currently developing significant projects in 11 cities across India. Throughout its operations, GPL aims to deliver superior value to all stakeholders through extraordinary and imaginative spaces created out of deep customer focus and insight.
Godrej Properties Ltd. is listed on the Bombay Stock Exchange (BSE) and The National Stock Exchange (NSE).
GPL has received several recognitions of its processes and performance which include receiving the ‘Best Business Practices’ award for the year 2009 and ‘Corporate Governance of the Year, 2008' award from Accommodation Times. GPL has also featured as the #1 ranked real estate developer for 2 consecutive years (2009 and 2010) in 'India’s Best Companies to Work For’ survey, conducted by ‘The Economic Times’ and ‘The Great Place To Work Institute’. GPL has been featured for 5 consecutive years as one of “India’s Top 10 Builders” by Construction World magazine.