Godrej Properties, a Mumbai-based real estate developer, has announced that they will be taking up a residential project in Pune to develop. The company has signed the deal and soon, they will begin the initial development.
The project is spread over 15 acres of land located in phase 1 of Hinjawadi IT park. There is almost 1.7 million sq. ft. with an offering of varieties of apartments in different configurations. This new housing venture will be built in the partnership with Godrej Residential Investment Program II (GRIP II). The company has planned to invest about $275 million for now.
“We are happy to add our 12th project in Pune in an important established micro market. This project addition fits well with our strategy of strengthening our presence in the country’s leading real estate markets,” says Pirojsha Godrej, Managing Director & CEO, Godrej Properties.
Godrej Properties, a real estate arm of Godrej Group, has been active since 1990. The company is continuously developing residential, commercial and township projects with ongoing saleable developing area 132.7 million sq. ft. in 12 cities.
Source: ET Realty