Wednesday, July 18, 2007

Exclusive: Godrej Properties to start residential projects in Bangalore

by Vipin Agnihotri

Godrej Properties, the real estate arm of the Godrej group, has come up with two projects worth Rs 850 crore in Bangalore. Godrej Properties Bangalore entry is through Godrej Woods man Estate, a 2.3 million square feet residential project being built in phases. The project is located on 15 acres about 1 km from Hebbal flyover on the Bellary Road. It is worth mentioning in this regard that the land for this project was acquired from Amco Batteries three years ago.

Theoretically speaking, Godrej Woods man Estate encompasses seven towers, each 16 storeys, housing nearly 842 and three bedroom apartments. It has been designed to give an open countryside feel. “Godrej Woodsman Estate offers you the opportunity to enjoy a modern day city lifestyle in an environment of serene greenery. Here, you can truly stay in the city and live in the country,” pointed out Adi Godrej, Chairman Godrej Group.

According to company sources, Godrej Properties will initially concentrate on the residential market in Bangalore. Company is busy creating a land bank to take up commercial and retail projects thereafter.

“From mass housing to customized luxury apartments, Godrej will continue to provide value added property solutions through commercial and residential properties,” pointed out Godrej.

Talking about Godrej Properties, it has been in the fray for around 16 years and has a reasonable presence in the suburbs of Mumbai and some upmarket locations in Pune. Now the company is all set to foray into the residential, IT parks and commercial real estate markets in Bangalore, Hyderabad, Kolkata and Chennai with a total offering of around 20 million square feet.

If experts are to be believed, Godrej Properties has been active in Kolkata, having tied up with two IT parks and one retail mall. It has come into the notice that company will build 1.8 million square feet IT park titled Godrej Simoco at Salt Lake and a 400,000 square feet retail mall titled CESC Godrej Plaza at Park Circus in Kolkata. 

The company’s clients include Reliance Infocomm, Tata Consultancy Services, BNP Paribas, State Bank of India, HDFC and LIC. Architects like DP Architects of Singapore, JP Parekh and PG Patki handle the projects of Godrej Properties. The group’s residential projects include a 19-acre enclave at Eden woods at Thane, Planet Godrej in the Mumbai city, Godrej in South Mumbai and Godrej Waldrof in the western suburbs of Mumbai offering an international lifestyle.

 

 

 

 

 

 

 

 

    

 

 

 

  

 

 

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