Godrej Properties has entered in to Joint Venture with Neelkamal Realtors for Project in Mumbai

Godrej Properties has entered in to Joint Venture with Neelkamal Realtors for Project in Mumbai

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2 year(s) ago

Leading real estate developer Godrej Properties has announced two key initiatives to expand its portfolio and development pipeline. Godrej Properties has entered in to Joint Venture with Neelkamal Realtors for Project in Mumbai

Joint Venture in Mumbai:

  • Partnered with Neelkamal Realtors Tower Private Limited (NRTPL) for a new project in Mumbai.
  • Godrej Properties will hold a majority stake (50.01%) through a special purpose vehicle named Godrej Residency Private Limited (GRPL).

Company Highlights:

  • Godrej Properties is actively acquiring land for future development, adding eight new projects so far in FY23 with a combined revenue potential of ₹16,500 crore.
  • The company aims to further expand its land holdings by March 2023.
  • This aggressive expansion aligns with Godrej Properties’ position as India’s largest developer by value and volume of residential sales in FY21 (as per the company).
  • In February 2024, Godrej Properties announced plans to invest ₹7,500 crore over the next 12-18 months in acquiring and developing new projects.

Overall Significance:

These developments showcase Godrej Properties’ commitment to growth in key markets like Mumbai and Gurugram. The company’s focus on premium residential projects and strategic land acquisition positions it well to capitalize on the ongoing demand in the Indian real estate sector.

 

Disclaimer: The information herein is based upon information obtained in good faith from sources believed to be reliable. All such information and opinions can be subject to change. Furthermore, The image featured in this article is for representation purposes only. It does not in any way represent the project. If you wish to remove or edit the article or want to publish your news or article please email news@jvdeals.in

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