Godrej Properties sells homes worth ₹2,690 crore in its new project in Mumbai

Mumbai-based real estate developer, Godrej Properties Ltd, said it has sold over 800 homes with a total area of around 1.5 mn sq ft in the Mumbai project

Published on: Apr 5, 2024, 16:06:08 IST

By HT News Desk

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Mumbai-based real estate developer Godrej Properties Ltd has sold housing inventory worth ₹2,690 crore in its new project, Godrej Reserve, located in Kandivali, Mumbai. The project was launched within 15 months of acquiring the land, the company said in a regulatory filing.

“Launched within 15 months of acquiring the land, this is GPL’s most successful launch ever in Mumbai in terms of the value and volume of sales achieved,” the company said on April 5.

Also Read: Godrej Properties acquires a 12.5-acre land parcel in Hyderabad; eyes revenue potential of ₹3500 crore

Godrej Reserve has a developable potential of around 3.72 million square feet with an estimated revenue potential of approximately ₹7,000 crore. The project has significant unlaunched inventory remaining, which the company plans to sell in the coming years, the company said.

Kandivali is an established residential location in Mumbai that provides access to well-developed social and civic infrastructure with multiple schools, health facilities, retail malls, and entertainment outlets.

Also Read: Godrej Properties highest bidder for land parcel in Noida with revenue potential of ₹3000 crore

“We are delighted with the response to our project, Godrej Reserve. This has now become the best-ever launch in Mumbai residential real estate. We’d like to take this opportunity to sincerely thank our customers and all stakeholders for their trust and confidence in Godrej Properties. We will do our best to ensure Godrej Reserve offers its residents an outstanding living experience,” said Gaurav Pandey, MD and CEO, Godrej Properties.

Also Read: Godrej Properties to develop township project in Bengaluru with a revenue potential of ₹5000 crore

Godrej Properties is one of the leading real estate firms in the country. It has a major presence in Mumbai Metropolitan Region (MMR), Delhi-NCR, Bengaluru and Pune.

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HT News Desk
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