Realty firm Godrej Properties Ltd (GPL) has sold flats worth Rs. 2,690 crore in its new housing project in Mumbai.
In the regulatory filling on Friday, the company informed that it has sold inventory worth around Rs. 2,690 crore in its project Godrej Reserve, Kandivali, Mumbai.
“Launched within fifteen months of acquiring the land, this is GPL’s most successful launch ever in Mumbai in terms of the value and volume of sales achieved,” it said. The company further informed about selling total 800 residential units with a total area of around 1.5 million sq.ft. in the Mumbai project.
This project has developable potential of 3.72 million square feet with an estimated revenue potential of about Rs. 7,000 crore. The project has significant unlaunched inventory remaining, which the company plans to sell in the coming years.
Gaurav Pandey, MD & CEO Godrej Properties said, “We are delighted with the response to our project, Godrej Reserve. This has now become the best-ever launch in Mumbai residential estate.” Godrej Properties is one of the leading real estate developers in the country. It has a huge presence in the Mumbai Metropolitan Region (MMR), Pune, and Bengaluru.
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