Godrej Properties JVs With Shipra Group To Build Luxury Housing In Heart Of Noida

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    Mumbai-based leading developers Godrej Properties has joined hands with the NCR developer Shipra Group to come up with a residential project in Noida. This will be Godrej Properties’ fourth project in Noida and 13th in NCR.

    The residential project will be luxury residential one and will come up in city-centre Sector 43. The project will be built on 11 acres of land owned by Shipra Group while the development work will be done by Godrej Properties.

    “This strengthens our development portfolio in NCR and fits well with our strategy of deepening our presence across India’s leading cities,” ET quoted Godrej Properties’ Pirojsha Godrej as saying. “We will seek to create a development that delivers a great experience for its residents.”

    About The Project

    The total saleable area of the joint project of Godrej Properties will be 2.2 million square feet. It will be priced Rs. 10, 000 per sq ft upwards.  The construction work on this project is expected to start in the mid of 2019.

    The land is located in close proximity to Noida Golf Course. The upcoming premium housing project is well surrounded by good social and physical infrastructure with excellent connectivity to offices in Sector 125, 126 and 127.

    The project will be in the vicinity of DLF’s Mall of India, The Great India Place as well as the commercial hub of Noida, Sector 18 market while remaining close to Noida-Greater Noida Expressway.

    Godrej Properties in NCR

    After establishing itself as the market leader in Mumbai and MMR, Godrej Properties seems to be creating a similar position for itself in the NCR real estate market. Nine years after entering the NCR, the company has definitely made a mark in the market owing to its reliability, time-on delivery, and high-quality projects.

    The modus operandi of Godrej Properties in NCR has remained somewhat similar. It generally ties up with landowners/local developers to develop real estate projects. The latest joint venture seems to be another addition of marquee developments in outstanding locations.

    The joint venture deal between Godrej and Shipra Group was negotiated by JLL, India’s largest real estate services firm. This is the third such assignment facilitated by JLL for Godrej in the Northern part of the country.

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