Real estate firms see good traction for plotted developments in WFH world

The country’s top real estate companies are seeing good traction for plotted developments thanks to work-from-home (WFH) norms and the preference for independent houses during the Covid-19 pandemic.

Godrej Properties, part of Godrej group, last month launched plotted developments of 1 million sq ft in Faridabad on 43.61 acres of land acquired from BPTP, an NCR-based developer.

Though the company did not share any numbers, market sources said it has sold 40 per cent of the 500 plots launched. The project has 750 plots.

Its first plotted development was launched in Bengaluru in 2018, which was sold at a 50 per cent premium