January 26 2016, 08.45 PM IST || Pocket Press release
The Mumbai-based developer has announced a partnership with Lotus Greens to develop a 4 million sq. ft. residential project
Godrej Properties Ltd. (GPL) (BSE scrip id: GODREJPRP), the real estate development arm of the Godrej Group, today announced it has entered the Noida real estate market for the first time through a Development Management Agreement to develop a residential group housing project within Lotus Greens Sports City in Sector 150, Noida.
Spread over 36 acres, the project will offer approximately 370,000 square meters (4 million sq. ft.) of saleable area and will be developed as a modern residential development comprising of apartments of various configurations. The site is within the 300 acre integrated sports city township being developed by Lotus Greens. The strategically located sports city has easy access to the Noida-Greater Noida Expressway and is planned to have modern amenities such as a world-class clubhouse, golf course, cricket stadium, tennis center, and football academy.
This is GPL’s first project in Noida and sixth within the National Capital Region (NCR). Within five years of entering the NCR market, Godrej Properties has established itself as one of the market leaders in Gurgaon in FY15 and hopes to replicate this success in Noida.
Mr. Pirojsha Godrej, Managing Director & CEO, Godrej Properties said, “We are pleased to announce our entry into the Noida market. We have seen strong growth in the scale of our operations in NCR and look forward to building on this momentum through our entry into Noida, which is one of the country's leading real estate markets."
