Godrej Properties announces its first project in Nagpur

December 17, 2011 | Proptiger

Godrej Properties, the real estate development arm of the Godrej Group, recently announced that it will develop approximately two million sq ft of premium residential apartments and villas within Anandam World City at Model Mills, Ganeshpeth, bang in the middle of Nagpur.

“We are very excited about our first project in the city. This project is at the centre of the city and given is prime location it is expected to do well. Nagpur is one of the fastest developing cities in the country and offers very good infrastructure. This is the 12th city that Godrej Properties has entered,” said Pirojsha Godrej, executive director of Godrej Properties. The company claimed that the residential towers are planned to be the tallest in Nagpur. It will comprise a range of luxurious amenities such as a four-acre central garden with a state-of-the-art club house, swimming pool, indoor games and a yoga room. Godrej Properties also claimed that the project is located in the heart of the city and it is well connected to the prime residential, retail, and commercial areas. The project has already received approvals and construction work has begun at the site. Godrej Properties has done a joint venture for this development and the deal will work on a revenue sharing model, said the company. In July-September, 2011, the company finalised five joint development deals including projects in Mumbai, Gurgaon, Hyderabad and Nagpur for eight million sq ft. GPL has completed several projects and is, at present, developing projects in 12 cities across India. It is listed on the Bombay Stock Exchange and the National Stock Exchange (NSE).