Godrej Properties to develop residential complex in Gurgaon

In a bid to construct a residential complex -- Godrej Summit -- in Gurgaon, Godrej Properties is planning to invest about Rs 600 crore in next five years. This will be the company’s second project in the National Capital Region.

The company will develop the said project in partnership with Zara Sanya in which Godrej Properties will hold 65% stake. The company will be constructing about 1,200 flats in 11 towers and the price of the flats will start from Rs 75 lakh.

The company is expecting to garner total revenue of Rs 1,200 crore from the said project. Real estate investor Sun Apollo is the financial partner in the new project.

Godrej Properties is a realty firm of Godrej group, promoted by Godrej Industries and Godrej & Boyce Manufacturing Company. It is one of the leading real estate development companies in India based in Mumbai, Maharashtra.