Godrej Properties Ltd (GPL) announced on April 7 that it has extended its arrangements with Shivam Realty to develop a residential housing project in Mumbai’s Kandivali area with estimated sales revenue of Rs 1,000 crore.
Godrej Properties Ltd said the group housing project, off Akurli crossroad at Hanuman Nagar, Kandivali East, was an extension of Godrej Tranquil and Godrej Nest and would offer approximately 7 lakh sq ft of saleable area.
"We are pleased to add this project to our portfolio. Kandivali is a developed micro-market and extending our existing projects in the location fits well with our strategy of deepening our presence in key micro markets across India,” said Mohit Malhotra, MD & CEO, Godrej Properties.
To be developed as a modern residential project, it will have apartments of various configurations.
The land parcel has easy access to the Western Express Highway and offers a well-developed social and civic infrastructure with multiple schools, hospitals, retail malls, residential and commercial spaces in close proximity, the company said in a statement.
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