Moneycontrol Bureau
Shares of Godrej Properties rallied more than 5 percent intraday Monday on selling 80 percent of apartments in first phase of Mumbai project.
The Mumbai-based real estate developer has seen a good response to its launch of flagship project, The Trees, in Vikhroli, Mumbai, the company in its filing.It has sold 300 apartments within one week, which represents more than 80 percent of the 374 apartments (with a saleable area of approximately 5 lakh square feet) it opened for sale in the first phase of this project.
Value of apartments sold is in excess of Rs 700 crore, it says.
The Trees mixed-use development contains a commercial precinct spread across 9.4 acres. It will comprise of a 5 star luxury hotel, cultural buildings, luxury residential, and a high street retail park.The more private luxury residential precinct spread across 6.7 acres, which was recently opened for sale, will house a community of residential buildings with private parks and an iconic clubhouse facility.
At 10:36 hours IST, the scrip of Godrej Properties was quoting at Rs 342.05, up Rs 7.55, or 2.26 percent on the BSE.Posted by Sunil Shankar Matkar
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