The Mumbai based real estate developer finalizes a property in Chembur, Mumbai for developing residential apartments
Godrej Properties Ltd. (GPL) (BSE scrip id: GODREJPRP) today announced that it has finalized a development agreement for a residential development on a property in Chembur, Mumbai. Situated off V. N. Purav Marg (Sion - Trombay Highway), behind Telecom Factory, the project has an estimated development potential of approximately 150,000 sqft.
The project location offers excellent connectivity to all key Mumbai business districts, as well as to the international and domestic airports. The location also boasts very well developed social, educational and entertainment infrastructure.
Like most of its projects, Godrej Properties’ is developing this project under its joint venture development model. Godrej Properties’ joint venture partner for this project is Bombay Footwear.
Mr. Pirojsha Godrej, Executive Director, Godrej Properties said, “We have completed several high end residential projects within Mumbai at places like Colaba, Mahalaxmi, Worli, Shivaji Park, Andheri, and Thane and look forward to adding this Chembur development to the list. This new project is in line with our strategy of strengthening our presence in the Mumbai market.”
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.
