Comments
Realty firm Godrej Properties expects a sales revenue of about Rs 700 crore from the second phase of its luxury housing project at Vikhroli in Mumbai launched on Thursday.
The company, which is real estate arm of the Godrej Group, had in November last launched the first phase of its housing project ‘The Trees’ comprising 374 units.
“We have launched the second phase of The Trees comprising 256 apartments. We got a very good response for the first phase with 95 per cent of the total unit already being sold,” Godrej Properties MD and CEO Pirojsha Godrej told PTI.
Asked about the expected sales realisation, he said: “the revenue potential of the second phase of the Trees is about Rs 700 crore”. He hoped that the company would sell a “good part” of the second phase of the project in this fiscal only.
The project ‘The Trees’ is a mixed used development project, spread over 34 acres, which houses Godrej One, the Godrej Group’s global headquarters.
It would have residential, commercial, a 5-star luxury hotel, cultural buildings and a high street retail park.
“Vikhroli has been integral to the Godrej Group’s history and it is our hope to transform it into a fully integrated city-within-a-city that offers its residents the highest quality of urban life,” Godrej said.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.