Godrej Properties launches second project in Chennai

The company has entered into partnership with SSPDL Green Acres LLP to develop residential project

Godrej Properties Ltd, the real estate development arm of the Godrej Group, has launched its second project in Chennai, with a residential project in partnership with SSPDL Green Acres LLP.

The partnership would develop a residential project at Padur, Old Mahabalipuram Road (OMR), near Siruseri IT Park, in Chennai. The proposed project spread over seven acres, is expected to offer around 93,000 square meters of saleable area and will be developed as a modern group housing residential development comprising one, two and three Bedroom-Hall-Kitchen apartments.

Pirojsha Godrej, MD & CEO, Godrej Properties said, "We are happy to add our second project in Chennai. This new deal fits well with our strategy of adding quality residential projects across India's leading real estate markets."

While the company did not share the expected cost of the project or the timeline for completion, it said that like most projects from Godrej Properties, this is also being developed through a profit sharing model.

Godrej Properties is currently developing residential, commercial and township projects spread across 8.83 million square meters (95 million square feet) in 12 cities.