Real estate firm Godrej Properties has entered into an agreement with Shivam Realty to develop a housing project in Mumbai.
The five-acre project will have a saleable area of one million square feet.
“Godrej Properties Ltd has entered into a development management agreement with Shivam Realty to develop a residential group housing project off the Akurli cross road at Hanuman Nagar, Kandivali East, Mumbai,” the company said in a statement.
Godrej Properties MD & CEO Pirojsha Godrej said this partnership strengthens the development portfolio in Mumbai and fits with the company's strategy of deepening presence in key markets across India’s leading cities.
Godrej Properties, the real estate arm of the Godrej Group, is currently developing residential, commercial and township projects spread across about 12.93 million square meters (131 million square feet) in 12 cities.