Top realtors see spurt in take-over proposals for stressed office projects

So far, there were opportunities in stalled residential projects for top developers like Godrej Properties

Top real estate developers such as Godrej Properties and Oberoi Realty are being flooded with takeover proposals for commercial properties from their distressed peers.

So far, there were opportunities only in stalled residential projects for the realty majors. “We are getting a lot of proposals for office projects. We are well placed to use such opportunities, and these will be processed by our fund management arm,” said Pirojsha Godrej, chairman of Godrej Properties.

Godrej Fund Management, a Godrej group firm, invests in residential and commercial projects. It had, last year, raised Rs3,200 crore for its commercial property fund and onboarded Allianz Real