Godrej Properties to develop new project in Kandivali, Mumbai; estimates booking value of Rs1,000 crore

7 Apr 2022 , 11:47 AM

Godrej Properties Ltd. today announced that it has extended its existing arrangements with Shivam Realty to develop a residential group housing project, off Akurli crossroad at Hanuman Nagar, Kandivali, East.

This project is will offer approximately 7 Lakh square feet of saleable area, and is an extension of the Godrej Tranquil and Godrej Nest projects of the company. This project will be developed as a modern residential project consisting of apartments of various configurations. The land will have easy access to the Western Express Highway and offers a well-developed social and civic infrastructure with multiple schools, retail malls, hospitals, and residential and commercial spaces in close proximity.

“We are delighted to add this project to our portfolio. Kandivali is a developed micro-market and extending our existing projects in the location fits well with company’s strategy of deepening our presence in key micro markets across India,” commented Mohit Malhotra, MD & CEO, Godrej Properties.

Godrej Properties was trading at Rs1,692.90, up by 0.67% against its previous close of Rs1,681.65 on NSE. It touched an intraday high and low of Rs1,699 and Rs1,676.25 respectively.