The project is estimated to have a developable potential of approximately 125,000 square feet saleable area comprising primarily of residential apartments of various configurations.
Shares of Godrej Properties rose nearly 3 percent in early trade on December 6 after the company announced a joint venture with TDI group to develop a residential project in New Delhi.
“Godrej Properties has entered into a joint venture with TDI group to develop an ultra-luxury residential project in Connaught Place, one of the most premium locations within the Central Business District of New Delhi,” the company said in the release.
The project is estimated to have a developable potential of approximately 125,000 square feet saleable area comprising primarily residential apartments of various configurations.
The site is centrally located and offers excellent connectivity, well developed social and civic infrastructure with Delhi’s best schools, hospitals, retail and commercial spaces in close proximity, the company said.
“As we continue to strengthen our presence in Delhi, we are happy to add this project in one of downtown Delhi’s most desirable locations. This will be our third project in Delhi and further expands our presence across India’s leading cities,” said Mohit Malhotra, MD & CEO, Godrej Properties.At 09:20 hrs, Godrej Properties was quoting at Rs 2,070.30, up Rs 47.15, or 2.33 percent on the BSE.
