FONT-SIZE Plus   Neg

Godrej Properties Enters New Joint Venture Project In Pune

The Mumbai-based real estate development arm of the Godrej Group Godrej Properties Ltd. (GPL) entered into a joint venture project to develop a housing project at Undri (near NIBM) in Pune.

The project, spread over 31 acres, will offer around 1.5 million sq.ft. Saleable area and will comprise of 1, 2 and 3 BHK apartments.

The location offers excellent connectivity to all key access points in Pune like M.G. Road, the Mumbai-Bangalore Highway (NH 4), and the Pune-Solapur Highway (NH 9). The project will also benefit from the well developed social and educational infrastructure surrounding it with Corinthian Club, Bishop's co-ed School, and Delhi Public School in the immediate neighbourhood.

Godrej Properties will be entitled to 40 percent of the profits from the project.

Managing Director & CEO Pirojsha Godrej said, "We are very happy to announce this new project in Pune. GPL has built a number of landmark properties in Pune over the years including Godrej Eternia, Godrej Castlemaine, Godrej Millennium and Godrej Sherwood. Godrej Horizon, our current residential project, is also located in Undri. This project will offer contemporary, environmentally friendly living spaces and will help to grow our presence in Pune."

At the BSE, Godrej Properties shares are currently trading at Rs.540.40, up 2.10 percent from the previous close.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Apple confirmed that it has bought face animation software firm Faceshift, although it was tight lipped about how it intends to use the new addition. The move is speculated as a bid to expand into virtual reality. Environment ministry of South Korea Thursday ordered Volkswagen Korea to recall 125,522 diesel vehicles on determining actual emissions of nitrogen oxides. The ministry has asked the German automobile maker to pay a fine of 14.1 billion Won or $12.31 million. The company has to submit a recall plan by January 6, 2016. The U.S. Food and Drug Administration has alerted health care professionals and patients of a voluntary recall of compounded multivitamin capsules containing high amounts of Vitamin D3 (Cholecalciferol), distributed nationwide by Glades Drugs in Pahokee, Florida. FDA has received reports of several...
comments powered by Disqus
Follow RTT