Breaking News
FONT-SIZE Plus   Neg
Share SHARE

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
Stocks moved notably higher over the course of the trading day on Friday after initially showing a lack of direction. The gains on the day extended the recent upward trend by the markets, with the tech-heavy Nasdaq reaching its best closing level in almost a month. Looking to capitalize on news of an Ebola diagnosis in New York City, Republican Senate candidate Scott Brown issued a statement Friday criticizing his Democratic opponent Sen. Jeanne Shaheen, D-N.H., for "waffling" on a travel ban. In another troubling sign for Democrats, the results of a Gallup poll released on Friday show that Tea Party Republicans are much more motivated to vote in the upcoming midterm elections than other Americans. The poll found that 73 percent of Tea Party Republicans are "extremely" or "very" motivated to vote in this year's elections.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.