Godrej Properties has been in the planning mode to enter the Delhi-NCR market with the launch of several residential projects in Delhi, Faridabad and Ghaziabad, confirmed by an official.
The company is already present in the Delhi-NCR market with one project each in Noida, Greater Noida and Gurgaon. It is planning to scale its residential business by initiating residential projects in the form of plotted development, group housing or villa development.
This Mumbai-based developer has been gathering information for land parcels of a minimum size of 25-50 acres in cities like Bangalore, Delhi-NCR, Pune and Mumbai where it can commence the plotted land development business. They are also in talks with many landowners and investors to purchase land and develop properties.
“Couple of deals are in the term sheet stage but the due diligence is yet to be done. The first plotted development project might come up in Bengaluru,” says Mohit Malhotra, Executive Director, Godrej Properties.
Source: ET Realty