Godrej Properties enters into Development Agreement with Shivam Realty

To develop residential group housing project in Kandivali, Mumbai

MUMBAI: Godrej Properties has entered into a development management agreement with Shivam Realty to develop a residential group housing project off the Akurli cross road at Hanuman Nagar, Kandivali East, Mumbai.

Spread over 5 acres, the project will offer approximately 93,000 square meter (1 million sq. ft.) of saleable area and will be developed as a modern residential development comprising of apartments of various configurations. The project is strategically located with easy access to the Western Express Highway. The location offers extremely well developed social and civic infrastructure with multiple schools, hospitals, retail malls and residential and commercial spaces in close proximity.

Godrej Properties Managing Director & CEO Pirojsha Godrej said, “We are happy to add this new project in Kandivali. This strengthens our development portfolio in Mumbai and fits with our strategy of deepening our presence in key markets across India’s leading cities. We will seek to ensure this project delivers an outstanding lifestyle for its residents.”

Godrej Properties, the real estate arm of the Godrej Group, is currently developing residential, commercial and township projects spread across about 12.93 million square meters (131 million square feet) in 12 cities.

Shares of the company declined Rs 2.25, or 0.56%, to trade at Rs 397.60. The total volume of shares traded was 8,014 at the BSE (10.09 a.m., Monday).

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