Godrej Properties plans its second residential project in Chembur

The Mumbai based real estate developer signs a development agreement for a property in Chembur, Mumbai

Godrej Properties Ltd. (GPL) (BSE scrip id: GODREJPRP) today announced that it has finalized a development agreement with Capsulation Services Private Ltd. The company will develop a residential project with a saleable area of 1 lakh sq.ft.

The project location offers excellent connectivity to all key Mumbai business districts, as well as to the international and domestic airports.  The location also boasts of a well developed social, educational and entertainment infrastructure. The company has built a number of properties in Mumbai over the years in areas like Colaba, Mahalaxmi, Worli, Shivaji Park, Sion, Andheri and Thane.

Mr. Pirojsha Godrej, Executive Director, Godrej Properties said, “With the signing of this development agreement, Godrej Properties plans to build its second residential property in Chembur which will further strengthen our presence in Mumbai. Our commitment is to provide high quality, well designed and environmentally friendly living standards in all our projects.”

About Godrej Properties Ltd.:
Established in 1990, Godrej Properties Limited (GPL) brings the Godrej Group philosophy of innovation and excellence to the real estate industry.  GPL aspires to be among India’s top three real estate companies while continuing to be the most trusted name in the industry. GPL has completed several landmark projects and is currently developing significant projects in 11 cities across India. Throughout its operations, GPL aims to deliver superior value to all stakeholders through extraordinary and imaginative spaces created out of deep customer focus and insight.

Godrej Properties Ltd. is listed on the Bombay Stock Exchange (BSE) and The National Stock Exchange (NSE).

GPL has received several recognitions of its processes and performance which include receiving the ‘Best Business Practices’ award for the year 2009 and ‘Corporate Governance of the Year, 2008' award from Accommodation Times. GPL has also featured as the #1 ranked real estate developer for 2 consecutive years (2009 and 2010) in 'India’s Best Companies to Work For’ survey, conducted by ‘The Economic Times’ and ‘The Great Place To Work Institute’. GPL has been featured for 5 consecutive years as one of “India’s Top 10 Builders” by Construction World magazine.