Godrej Properties announces the launch of its first project in Chennai

The Mumbai-based real estate developer launches its residential project, Godrej Palm Grove

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Godrej Properties Ltd. (GPL) (BSE scrip id: GODREJPRP), the real estate development arm of the Godrej Group, today announced the launch of its first residential project, Godrej Palm Grove, in Chennai. Spread across 12.5 acres, this premium residential project consists of 16 and 19 storey towers, offering a total of 1,556 modern apartments. Customers can choose from amongst 2 and 3 BHK apartments that range from 1,188 sq. ft to 1,489 sq. ft.

Godrej Palm Grove offers excellent connectivity. It is 6 kms from Poonamallee, a 20 minute drive from Koyambedu, and is within close proximity of the proposed Green Field airport at Sriperumbudur. Located on the NH-4 Bengaluru highway about 25 kms from Chennai city center, Godrej Palm Grove is within the Chennai Metropolitan Development Authority (CMDA) limits.

Godrej Palm Grove is designed to combine luxury and convenience. The project offers amenities like a 22,500 sq. ft club house, a swimming pool, a well equipped gymnasium, a squash court, a tennis court, a skating rink, a central plaza, intercom connectivity, a department store, reticulated piped cooking gas, a meditation center and a party hall.

Godrej Palm Grove has been pre-certified Gold by the Indian Green Building Council (IGBC). GPL has planned several environmentally friendly features in the project and an interesting highlight is that the design offers 70% open space for residents to unwind.

Larsen & Toubro, India’s leading construction firm, will construct Godrej Palm Grove. Like most of GPL’s projects, Godrej Palm Grove is also a joint venture project. GPL has entered in to a development agreement with Addison & Co. for this project.

Mr. Pirojsha Godrej, Executive Director, Godrej Properties said, “We are excited about launching our first project in Chennai. We believe Chennai is one of the most important real estate markets in the country and we look forward to building our presence here. The launch of Godrej Palm Grove is in line with our strategy of establishing a strong footprint in large developing markets across the country. Godrej Palm Grove will offer its residents a modern, contemporary lifestyle in a green and natural environment.”

About Godrej Properties Ltd.:

Established in 1990, Godrej Properties Limited (GPL) brings the Godrej Group philosophy of innovation and excellence to the real estate industry. GPL has completed several landmark projects and is currently developing significant projects in 12 cities across India. Throughout its operations, GPL aims to deliver superior value to all stakeholders through extraordinary and imaginative spaces created out of deep customer focus and insight.

Godrej Properties Ltd. is listed on the Bombay Stock Exchange (BSE) and The National Stock Exchange (NSE).

GPL has received several recognitions for its processes and performance which include receiving the ‘Best Emerging National Developer’ award at the Zee Business – RICS Real Estate Awards 2011. GPL has also featured as the #1 ranked real estate developer for three consecutive years in ‘India’s Best Companies to Work For’ survey, conducted by ‘The Economic Times’ and ‘The Great Place To Work Institute’.

GPL has been featured for six consecutive years as one of “India’s Top 10 Builders” by Construction World magazine.