Godrej Properties adds its 3rd residential project in NCR

Moneycontrol Bureau

Mumbai-based Godrej Properties, the real estate development arm of the Godrej group, on Monday inked a development agreement with M/s Oasis Buildhome to develop a 13.76 acre property situated on Northern Periphery Road (NPR) in Sector 88A/89A, Gurgaon.  The project will be developed as a premium residential group housing project and is expected to offer 1.2 million sq. ft. of saleable area.

"NCR is an important growth market for us and this is the second new project we've entered in NCR in FY14. The project fits well with our strategy of growing our presence in India's leading real estate market," Pirojsha Godrej, Managing Director & CEO, Godrej Properties said in a release.

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This well located parcel of land has strategic access from the existing Pataudi Road and the NPR. Upcoming road infrastructure will further enhance the connectivity of the project to Delhi and other parts of Gurgaon, the company claimed in a release.

The company is currently developing two residential projects in Gurgaon, Godrej Frontier and Godrej Summit, and has recently added a new project in Okhla, New Delhi where it plans to do a premium residential development.  As with most Godrej Properties projects, this project is being done as a joint venture.