Godrej Properties Sells 300 Flats for Rs 700 Crore in Mumbai

New Delhi: Realty firm Godrej Properties has sold 300 flats worth over Rs 700 crore in just one week in its project at Vikhroli, Mumbai, even as the housing segment is facing a huge demand slowdown.

Godrej Properties, the real estate development arm of the Godrej group, on Monday informed the BSE that “it has sold 300 apartments within one week at ‘The Trees’, its flagship project in Vikhroli, Mumbai”.

“The value of the apartments sold is in excess of Rs 700 crore making this Godrej Properties’ most successful launch ever in terms of value of real estate sold. This is also one of the country’s most successful recent launches,” it added.

Godrej Properties has launched 374 apartments in the first phase of the project.

“We are thrilled with the customer response to the launch of The Trees in Vikhroli. We will do everything possible to ensure we deliver our customers an outstanding and innovative project,” Godrej Properties MD and CEO Pirojsha Godrej said.

Spread across 34 acres, the mixed-use development project contains a commercial precinct spread across 9.4 acres, which houses Godrej One, the Godrej Group’s global headquarters.

The central mixed use precinct, spread over 9.2 acres, 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. Godrej Properties is developing residential, commercial and township projects spread across 110.30 million sq ft in 12 cities.

On the back of BKC deal, the company has achieved a sales booking of over Rs 3,200 crore in the first half of the fiscal, crossing Rs 2,681-crore sales booking in the entire 2014-15 fiscal.

The company in September had sold 4.35 lakh sq ft office space to Abbott India in ‘Godrej BKC’ project at Bandra Kulra Complex (BKC), Mumbai for Rs 1,479 crore.