The Mumbai based real estate developer enters into a partnership to develop a new residential project in Joka, Kolkata
Godrej Properties Limited (GPL) (BSE: GODREJPRP), the real estate development arm of the Godrej Group, has entered into a new deal to develop a residential project at Joka, in South Kolkata. The proposed project will offer approximately 277,000 square metres (3 million sq. ft.) of saleable area and will be developed as a modern residential development.
The location offers excellent connectivity to all key areas in Kolkata including Alipore, Park Street, Salt Lake, Tollygunge. The project will also benefit from the rapidly developing social infrastructure in the area and the proposed infrastructure developments like the Joka metro station that will provide major impetus to the development of the area. As with most GPL projects, this project will be developed under a profit sharing model.
Mr. Pirojsha Godrej, Managing Director & CEO, Godrej Properties said, “We are very happy to add a large new project in Kolkata to our portfolio. This fits well with our strategy of adding quality residential projects across India’s leading real estate markets.”