Godrej Connaught Place
Godrej Properties, TDI Group ink joint venture for luxury TDI Group ink joint venture for luxury residential project in Connaught Place, Delhi
The Godrej Group firm is seeking to leverage its model and monetary place to faucet consolidation alternatives by misery conditions arising in the true property sector. In November, the corporate acquired a 16-acre prime land parcel in Bangalore’s quickest creating micro-market of Sarjapur to develop a mid-income housing project.
Godrej Connaught Place
Industry specialists imagine the continued market consolidation in favour of huge and established builders will achieve momentum owing to their higher execution capacity and entry to liquidity in the present market surroundings than that for smaller builders. The firm has been elevating funds to drive consolidation with using extra capital and to considerably strengthen its growth portfolio.
Godrej Connaught Place
Last 12 months, Godrej Properties had raised Rs 1,000 crore by non-convertible debentures on a non-public placement foundation for a time period of three years at 7.5%. Prior to that, it had raised Rs 2,100 crore final 12 months by a professional institutional placement (QIP). In March this 12 months, the developer raised Rs 3,750 crore by one other QIP of 25.9 million fairness shares to world traders together with Goldman Sachs Funds, authorities of Singapore and Invesco Oppenheimer Developing Markets Fund.
Godrej Connaught Place
Godrej Properties, TDI Group ink joint venture for Godrej Properties Luxury Residential Project in Connaught Place, Delhi
has entered right into a joint venture with realty developer TDI Group to develop an ultra-Luxury Residential project in Connaught Place, one of many prime areas throughout the Central Business District of New Delhi.
‘Godrej Connaught Place’
The project is estimated to have a developable potential of round 1.25 lakh sq ft saleable space comprising primarily residential flats of varied configurations. You may also find Top 10 Luxury Apartments in Noida with us.
“As we continue to strengthen our presence in Delhi, we are happy to add this project in one of downtown Delhi’s most desirable locations. This will be our third project in Delhi and further expands our presence across India’s leading cities,” mentioned Mohit Malhotra, MD & CEO, Godrej Properties.
The web site of the proposed project is centrally positioned and gives good connectivity, nicely developed social and civic infrastructure with Delhi’s greatest faculties, hospitals, retail and business areas in shut proximity.
“We are proud to be associated with Godrej Properties to deliver this uber-luxury project and we look forward to this association,” mentioned Kamal Taneja, Managing Director, TDI InfraCorp.
Godrej Connaught Place Delhi up with TDI group for luxury housing project at Connaught Place in Delhi
In a regulatory filing, Godrej Properties informed that the project would have a development potential of about 1.25 lakh square feet saleable area. Realty firm Godrej Properties Ltd on Monday said it has entered into a joint venture (JV) with TDI group to build a luxury housing project at Connaught Place in Central Delhi. In a regulatory filing, Godrej Properties informed that the project would have a development potential of about 1.25 lakh square feet saleable area. This is one of the most premium Project in Delhi.
Godrej Properties said it has “entered into a joint venture with TDI group to develop an ultra-luxury residential project in Connaught Place (CP), one of the most premium locations within the central business district of New Delhi”. Mohit Malhotra, Managing Director (MD) and Chief Executive Officer (CEO) of Godrej Properties, said, “As we continue to strengthen our presence in Delhi, we are happy to add this project in one of downtown Delhi’s most desirable locations”. This will be the company’s third project in Delhi, he added.
Godrej Properties is developing a housing project at Godrej Connaught One Delhi, while it will soon launch a luxury housing project at Ashok Vihar in the national capital. In the Delhi property market, the company is also developing multiple housing projects in Noida, Greater Noida and Gurugram. Kamal Taneja, MD of TDI InfraCorp, said, “We are proud to be associated with Godrej Properties to deliver this uber-luxury project and we look forward to this association.”
Mumbai-based Godrej Properties Connaught Place Delhi is expanding its presence across four major cities — Delhi-NCR, Mumbai Metropolitan Region (MMR), Pune and Bengaluru. It is buying land parcels and entering into joint ventures with landowners to add projects for future development. Recently, the company bought a 16-acre land parcel in Bengaluru to develop primarily residential properties.
Godrej Properties Connaught Place’ sales bookings rose 18 per cent to Rs 3,072 crore during the April-September 2021 period, driven by higher demand for its residential properties in Delhi-NCR. The sales bookings had stood at Rs 2,605 crore in the corresponding period of the last financial year. Godrej Properties reported a five-fold jump in its consolidated net profit to Rs 35.72 crore for the quarter ended September on higher revenues.
