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Godrej Properties Limited (GPL) has achieved a major milestone in Mumbai with their latest project, Godrej Reserve, located in Kandivali. Launched just 15 months after acquiring the land, the project has already sold a staggering INR 2,690 crore worth of inventory, making it GPL's most successful launch ever in the city.
This impressive feat highlights the strong demand for premium residential properties in well-connected locations like Kandivali.
Kandivali has well-developed social and civic infrastructure, including schools, hospitals, shopping malls, and entertainment options. Residents can enjoy a convenient lifestyle with everything they need close by. With over 5.1 lakh properties identified in a recent survey in Gurgaon alone, we can see the growing importance of well-developed areas for homebuyers.
The area is well-connected to the city's transportation network, with easy access to the Western Express Highway, Metro stations, and Suburban Railway Stations. The recent addition of a metro line connecting Kandivali, Dahisar, and Andheri has further improved travel times and commuting convenience. This focus on improved connectivity is a major factor driving residential property sales across various cities in India.
Godrej Reserve itself is a sprawling project with a developable potential of 3.72 million square feet. This translates to an estimated revenue potential of approximately INR 7,000 crore. With a significant amount of unlaunched inventory remaining, GPL expects continued success in the coming years. This project significantly strengthens its presence in Mumbai's western suburbs, offering residents a luxurious living experience in a highly desirable location that boasts excellent infrastructure and connectivity.
Godrej also entered the Hyderabad real estate market on 21st February 2024 by acquiring 12.5 acres in Rajendra Nagar. The development of this land parcel is expected to yield a 4 million sq. ft. saleable area, focusing on premium residential apartments with an estimated revenue potential of INR 3,500 crore. This expansion demonstrates Godrej's confidence in the Indian real estate market and its commitment to providing high-quality living spaces across the country.
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