Godrej Properties launches a new project in NCR
Godrej Properties Limited (GPL) , the real estate development arm of the Godrej Group, has entered into a Development Agreement with Oasis Buildhome Pvt. Ltd. to develop a 13.76 acre property situated on Northern Periphery Road (NPR) in Sector 88A/89A, Gurgaon. The project will be developed as a premium residential group housing project and is expected to offer 1.2 million sq. ft. of saleable area.
The project has strategic from the existing Pataudi Road and the NPR. Upcoming road infrastructure is expected to enhance the connectivity of the project to Delhi and other parts of Gurgaon.
The company is currently developing two residential projects in Gurgaon — Godrej Frontier and Godrej Summit — and has recently added a new project in Okhla, New Delhi, where it plans to do a premium residential development. As with most Godrej Properties projects, this project is being done as a joint venture.
Pirojsha Godrej, managing director & CEO, Godrej Properties said: “We are happy to add this new project in Gurgaon to our development portfolio. NCR is an important growth market for us and this is the second new project we’ve entered in NCR in FY14. The project fits well with our strategy of growing our presence in India’s leading real estate markets and we will aim to replicate the success of our previous projects in the Gurgaon market."