The new project to be come up in Thane West will be spread over 14 acres and with saleable area of 1,95,000 square metres, will be developed under a development management agreement, the Mumbai-based company said in a BSE filing.
In the Thane project, Godrej Properties will build modern apartments of various configurations along with a small retail component to support residential development.
Godrej Properties Executive Chairman Pirojsha Godrej said that adding this new project in Thane, a key micro-market of Mumbai, strengthens the company's development portfolio.
Shares of the company were trading down at Rs 631.50 apiece at 1230 hours on the BSE.
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