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| Mr. Pirojsha Godrej, ED |
This move stems from the belief that residential projects are largely self funding as developers/promoters use advances from house buyers to complete construction.
Mr. Pirojsha Godrej, ED, Godrej Properties Said, “We have changed the business model for Godrej Garden City and Godrej Oasis to largely residential in nature. We estimate to save up to Rs 6,000 crore in investment”
Godrej Garden City project, has been resized and repositioned as a residential development, which effectively reduces the developable area from 4.04 croer sq. ft to 2.4 crore sq. ft, while simultaneously increasing the ratio of residential area to total area from 65% to 90%. As a result, the change in the commercial component of the project has fallen from the earlier envisaged 1.41crore sq. ft to 34 laks sq. ft.
Godrej Oasis project, the firm has reduced the overall developable area to 72 lakh sq. ft from 96 lakh sq. ft. It also has reduced the share of commercial and other areas from the 96 lakh sq. ft to 23 lakh sq ft.
About Godrej Properties..!
Established as Godrej Properties Ltd. in 1990. One of the first real estate companies to have obtained an ISO certification. Projects in 12 cities pan India.
Head Office : Mumbai
Godrej Properties Limited,
4th Floor, Godrej Bhavan 4A, Home Street,
Fort Mumbai 400 001.
Telephone :
Fax: +91 - 22 - 2207 2044
Board No. : +91 - 22 - 66510200
Ahmedabad Office:
Marketing: +91 79 6614 0200 / +91 79 6190 0500
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