Expecting to raise the sales revenue of around Rs.3000 in next 6 to 7 years, Godrej Properties made a whooping Rs. 300 crores on the first day of its launch itself. Being the real estate stem of Godrej Group, Godrej Properties is set to come-up with new projects and make announcement of tie-ups for future development. Last month, it forayed into the Noida-Greater Noida property market by launching a 100-crore township in collaboration with local builder called Ace Group. Throwing light on the information later, Mr. Godrej said that they have sold over 6 lakh sqft of villas in a single day, which was an important step towards establishing firm grounds in Noida-Greater Noida. He also stated that this has been their first project in the prime real estate market of Delhi/NCR.
Giving more information on the deal, Mr. Godrej stated that the construction work will start at the location in the next month and the revenue recognition with be completed by next fiscal year. It has been brought out to the notice of the investors that the company’s project holds potential of developing 4.5 million square feet area with villas and group housing. Though, Mr. Godrej provided ample information about the project; but, he did not give any hints over the amount of investment to be made in developing the entire project. By joining hands with the local real estate companies, Godrej Group has managed to set their foot in Noida-Greater Noida range. The company has been active in developing qualitative projects on residential and commercial front.
This project by Godrej Group named Crest was launched before Diwali that contains villas of different sizes. It was, further, stated that Noida project is about to begin by the end of existing financial year. And for this, Godrej Group has partnered with Lotus Greens to make a place for them in Noida’s property market. Talking about the achievements of the Godrej Group, Mr. Godrej said that they did record sales of about Rs. 5038 crores in the last financial year assisted by Rs. 1500 commercial area deal at Godrej BKC in Mumbai. Indeed, the company is aiming at real estate sub-markets involving Sohna in Gurugram too. Presently, the company has 1 million sqft of space in Chandigarh and Kolkata worth Rs. 1500 crore. Certainly speaking, Godrej Group is a real estate company aiming towards adding to the architectural growth of the nation.