In an impressive achievement, Godrej Properties, a leading developer, sold more than 1,050 homes valued at over Rs 3,000 crores in their Godrej Zenith project located in Sector 89, Gurugram. They announced this success in a filing to the stock exchanges, calling it their most successful launch ever in terms of both sales volume and value. This project stands as their largest residential development in Gurugram.
The company reported a remarkable 473 percent increase in sales in Gurugram for the fiscal year 2023-24 compared to the previous year. They also shared plans for upcoming launches in Sector 103, Sector 43, and Sector 54 for the year 2024-25. Gaurav Pandey, MD and CEO of Godrej Properties, expressed gratitude to customers and stakeholders for their trust and confidence in the company, pledging to provide an exceptional living experience at Godrej Zenith.
This marks the second instance in Gurugram and the fourth across India where Godrej Properties has achieved sales exceeding Rs 2,000 crore during a launch in the fiscal year 2023-24. Other successful projects include Godrej Reserve in Kandivali, Mumbai, Godrej Aristocrat in Sector 49, Gurugram, and Godrej Tropical Isle in Noida. Additionally, DLF, another real estate company, saw impressive pre-launch sales of around Rs 7,200 crore for their DLF Privana South project in Gurugram, which sold out completely within 72 hours.
Recent trends suggest a promising outlook for the Indian residential real estate market in the election year 2024, with similarities to the peaks witnessed in 2014 and 2019. Anarock, a real estate consultancy firm, highlights the correlation between general elections and housing sales, citing the surge in sales and new launches during election years.
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