Godrej Properties Ltd. (GPL) (BSE scrip id: GODREJPRP), the real estate development arm of the Godrej Group, today announced it has entered the Noida real estate market for the first time through a Development Management Agreement to develop a residential group housing project within Lotus Greens Sports City in Sector 150, Noida.
Spread over 36 acres, the project will offer approximately 370,000 square meters (4 million sq. ft.) of saleable area and will be developed as a modern residential development comprising of apartments of various configurations. The site is within the 300 acre integrated sports city township being developed by Lotus Greens. The strategically located sports city has easy access to the Noida-Greater Noida Expressway and is planned to have modern amenities such as a world-class clubhouse, golf course, cricket stadium, tennis center, and football academy.
This is GPL first project in Noida and sixth within the National Capital Region (NCR). Within five years of entering the NCR market, Godrej Properties has established itself as one of the market leaders in Gurgaon in FY15 and hopes to replicate this success in Noida.
Mr. Pirojsha Godrej, Managing Director CEO, Godrej Properties said, We are pleased to announce our entry into the Noida market. We have seen strong growth in the scale of our operations in NCR and look forward to building on this momentum through our entry into Noida, which is one of the countrys leading real estate markets.
About Godrej Properties Ltd.:
Godrej Properties brings the Godrej Group philosophy of innovation and excellence to the real estate industry. Each Godrej Properties development combines a 119 ndash; year legacy of excellence and trust with a commitment to cutting-edge design and technology. Godrej Properties is currently developing residential, commercial and township projects spread across 10.67 million square meters (115 million square feet) in 12 cities.
In the last 3 years, Godrej Properties has received over 100 awards and recognitions, including the Real Estate Company Of The Year at the Construction Week India Awards 2015, Most Reliable Builder for 2014 at the CNBC AWAAZ Real Estate Awards 2014, Innovation Leader in Real Estate award at the NDTV Property Awards 2014 and Popular Choice – Developer of the Year award by ET NOW in 2013.