Realty firm Godrej Properties Ltd (GPL) today said it has entered into a partnership with SSPDL Green Acres LLP to develop a residential project in Chennai.
The project will be developed through a profit sharing model.
"The proposed project, spread over 7 acres, will offer approximately 93,000 square meters of saleable area and will be developed as a modern group housing residential development comprising one, two and three bedroom apartments," the company said in a statement.
Speaking on this new partnership Godrej Properties MD and CEO Pirojsha Godrej in a said: "We are happy to add our second project in Chennai. This new deal fits well with our strategy of adding quality residential projects across India's leading real estate markets."
Project location offers excellent connectivity to all key areas in Chennai including the East Coast Road (ECR) and Grand Southern Trunk (GST) road and it will also benefit from the rapidly developing Information Technology zones surrounding it, the statement added.
Meanwhile, yesterday also GPL has entered into a joint venture with two local firms to develop a premium housing project in Pune.
GPL is developing housing, commercial and township projects spread across 94 million sq ft in 12 cities.
