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Real Estate >> News
Godrej Properties adds a new residential project in Chennai
By
siliconindia
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Saturday, March 29, 2014
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Chennai : The Mumbai based real estate developer has entered into a partnership to develop a residential project at Old Mahabalipuram Road (OMR), Chennai Godrej Properties Ltd. (GPL) (BSE scrip id: GODREJPRP), the real estate development arm of the Godrej Group, has entered into a partnership with SSPDL Green Acres LLP to develop a residential project at Padur, Old Mahabalipuram Road (OMR), near Siruseri IT Park, in Chennai.
The proposed project, spread over 7 acres, will offer approximately 93,000 square meters (1 million sq. ft.) of saleable area and will be developed as a modern group housing residential development comprising 1, 2 & 3 BHK apartments.
Like most Godrej Properties' projects, this project is being developed through the profit sharing model.
The location offers excellent connectivity to all key areas in Chennai including the East Coast Road (ECR) and Grand Southern Trunk (GST) road. The project will also benefit from the rapidly developing social infrastructure and Information Technology zones surrounding it. Furthermore, proposed infrastructure developments like the expressway from Taramani and improved train connectivity are expected to provide impetus to the growing real estate environment of OMR.
Mr. Pirojsha Godrej, MD & CEO, Godrej Properties said, 'We are happy to add our second project in Chennai. This new deal fits well with our strategy of adding quality residential projects across India's leading real estate markets.'
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