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The real estate development arm of the Godrej Group, Godrej Properties has entered into a partnership with Oxford Group and Ekta World to develop a residential project in Mundhwa, Keshavnagar and Pune.
The project, spread over 43 acres, will offer approximately 2.8 million square feet of saleable area and will be developed as a premium residential development comprising one, two, three and 4BHK apartments.
This would be a joint venture project for the Mumbai based real estate developer with the company getting 35 per cent of the profits from the project, according to a company statement.
Pirojsha Godrej, MD & CEO, Godrej Properties said: “This new residential project in Pune fits well with our strategy of entering partnerships for residential developments in the best locations within India's largest real estate markets. Over the years, we have built a number of landmark properties in Pune and this project is our eighth project in Pune.”
Godrej Properties is currently developing residential, commercial and township projects spread across 8.73 million square meters (94 million square feet) in 12 cities.
The scrip of Godrej Properties closed at ₹187 a share, up 4 points or 2.39 per cent from its previous close on the BSE on Wednesday.
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