Godrej Properties Limited (GPL) has entered into an agreement to purchase land in the upcoming & fast developing micro-market of Chandivali, Mumbai. The stock is currently trading at Rs990, down by Rs49 or 4.72% from its previous closing of Rs1,039 on the BSE.
Spread across ~3 acres, this project will offer 41,800 square meters (0.45 million square feet) of the saleable area comprising primarily of residential apartments of various configurations with a small amount of retail space.
Situated in close proximity to the bustling suburb of Powai, Chandivali is one of the preferred residential locations in Mumbai. The site is strategically located and offers an extremely well developed social and civic infrastructure with multiple schools, hospitals, retail, residential, and commercial spaces in close proximity, the company said in the filing.
Pirojsha Godrej, Executive Chairman, Godrej Properties said, “We are happy to add this new project in Chandivali, which fits well with our strategy of deepening our presence in key markets across India's leading cities. We will seek to ensure this project delivers an outstanding lifestyle for its residents.”
The scrip opened at Rs1,036 and has touched a high and low of Rs1,036 and Rs984.90 respectively.
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