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Godrej Properties is planning to launch a new luxury housing project in Delhi's Ashok Vihar this year, which has a potential to generate about Rs 8,000 crore sales revenue. The company is waiting for some pending government approvals to launch this 27-acre luxury residential project in Delhi-NCR, its best performing market last fiscal.
In February 2020, Godrej Properties had acquired nearly 27 acre land parcel in the national capital for Rs 1,359 crore to develop a luxury housing project. The land parcel belonged to Rail Land Development Authority (RLDA). The built up area is estimated at over 3 million square feet.
Godrej Properties is a realty firm of Godrej group and it is one of the leading real estate development companies in India based in Mumbai, Maharashtra. Currently, their business focuses on residential, commercial and township developments.