New Delhi June 2013: Godrej Properties Limited (GPL) (BSE scrip id: GODREJPRP), the real estate development arm of the Godrej Group, through its subsidiary, has entered into a Development Agreement with M/s Southend Infrastructure Private Limited, to develop a 5 acre property situated in Okhla Phase 1, New Delhi. The project will be developed as a luxury residential group housing project.
This prime parcel of land is strategically located near affluent parts of South Delhi on the main road going towards Mathura Road from Greater Kailash. Upcoming road infrastructure will further enhance the connectivity of the project to Central Delhi, Noida, Jasola, and Faridabad.
This will be Godrej Properties’ first development in New Delhi and its third in NCR. The company is also currently developing two residential projects in Gurgaon. This project is expected to be the first project under the residential investment platform that Godrej Properties established in FY13.
Mr. Pirojsha Godrej, Managing Director & CEO, Godrej Properties said, “We are happy to enter our first project in New Delhi. NCR is a key part of our growth strategy and we believe this project’s strategic location will help grow our presence in the region. We will make every endeavour to deliver a world class residential project.”
