Godrej Properties? largest project in Mumbai is set for launch in January next year. The 35-acre project at the central suburb of Vikhroli will be developed as an iconic green industrial, commercial and residential township.
The first building in the project will be an office space, which will also comprise some retail space on the lower floors. Commercial space, retail space and a hotel, which form the part of first phase, is expected to be completed by 2014, with an estimated developable area of around 2.18 million sq ft. The estimated saleable area will be 1.31 mn sq ft.
Pelli Architects will be designing the Vikhroli development. Godrej Properties has a dedicated team from PG Patki Architects working on it. The company has a tie-up with Larsen & Toubro for construction execution. The second-largest project of the group in Mumbai is ?Planet Godrej?, which is a 48-storied, five-tower building spread over 9 acres in Mahalaxmi.
The company says this large parcel of land will take several years to develop, as and when areas are released for development. ?We will announce new projects as joint ventures between Godrej Properties and other companies that own the Vikhroli land. We would expect construction on the first building to start in January 2011, as the progress on the master planning has been good, we have concluded the final master plan,? said Pirojsha Godrej, executive director, Godrej Properties during the company’s conference call with analysts.