Godrej Properties enters NOIDA with Lotus Greens tie-up

lotus

Godrej Properties Ltd, the real estate development arm of the Godrej Group, today announced it has entered the Noida real estate market for the first time through a Development Management Agreement to develop a residential group housing project within Lotus Greens Sports City in Sector 150, Noida.

“Spread over 36 acres, the project will offer approximately 370,000 square meters (4 million sq. ft.) of saleable area and will be developed as a modern residential development comprising of apartments of various configurations,” the company said.

The site is within the 300 acre integrated sports city township being developed by Lotus Greens.

Noida is among the real estate markets in India worst affected by an ongoing slowdown.

The new sports city has easy access to the Noida-Greater Noida Expressway and is planned to have modern amenities such as a world-class clubhouse, golf course, cricket stadium, tennis center, and football academy.

This is GPL’s first project in Noida and sixth within the National Capital Region (NCR).

Within five years of entering the NCR market, Godrej Properties has established itself as one of the market leaders in Gurgaon in FY15 and hopes to replicate this success in Noida, the company said.

Pirojsha Godrej, Managing Director & CEO, Godrej Properties said, “We have seen strong growth in the scale of our operations in NCR and look forward to building on this momentum through our entry into Noida, which is one of the country’s leading real estate markets.”



What Demonetization? Godrej Properties sells 300 flats in Pune in 2 months Godrej Properties said it has sold over 300 out of the 400 apartments put up for sale at its Godrej Greens project in Pune.The sale comes in the backdrop of a slow real estate market complicated by a recent crackdown on 'black money' or tax evasion. The crack down was widely seen as throwing the real estate sector into a virtual freeze.The Greens pr...
Mumbai’s Viviana Mall installs India’s largest rooftop solar plant Viviana Mall in Mumbai has installed one of the largest single-site solar plants in India.The mall, located in Thane, has constructed a 900,000 volt-ampere rooftop solar power plant, which the company said was the biggest in India.900,000 volt-ampere refers to the peak capacity of the power plant. It implies that at full power (during noon on a sunny...
Housing.com says demonetization to hit Real Estate sales: re-enters rentals Anticipating a slow down in home sales in the coming months in the wake of the crackdown on 'black money', housing.com will restart its rental classifieds business soon.The portal, which had seen an ugly spat between founder Rahul Yadav and investors two years ago, had shut its rental listing last year to focus on the more lucrative home sales segmen...
Demonetization: Sobha Developers offers instalment scheme on Dubai project Sobha Group, a real estate developer focused on South India and the Middle East, has announced a new deferred payment plan for apartments and villas at Sobha Hartland – an integrated freehold community on the Dubai Water Canal in Mohammed Bin Rashid Al Maktoum City. Under the new plan, buyers of apartments and villas can pay 40% of the price two years af...
Emgee Group to build apartments priced at Rs 8-12 lakh near Mumbai Emgee Group, known for its high-end properties, said it is planning to enter the affordable homes segment by building homes in price range of Rs 8 lakh to Rs 14 lakh with a configuration of 300 sq ft to 500 sq ft each unit.With this venture the company aims to help home-buyers qualify for benefits of credit-linked subsidy scheme under the Pradhan Man...
Shutters down on two Shoppers Stop, one Hypercity outlets Shoppers Stop Ltd said it is closing down its two stores at Inorbit mall at Pune and Nirmal Lifestyle at Mulund due to the decrease in business and low profitability.“The sales during last financial year from the store at Inorbit mall was Rs 2,491.20 lacs, which was 0.66% of the company's turnover and the sales from outlet at Nirmal Lifestyle was Ts 1,66...
Will Currency Ban Prick the Real Estate bubble? One of the most interesting aspects of the new move to 'churn' high-value currency notes will be its impact on real estate prices.The real estate sector was already reeling from high interest rates, slow economic growth and a fatigue due to the constant rise in prices.However, the new move to churn 500 and 1000 rupee notes via the banks to weed out b...
Nila Infrastructures gets Rs 43.5 cr order from Adani Shantigram Nila Infrastructures Ltd said it got a Rs 43.5 cr order from Adani Ports and Special Economic Zone Ltd to construct an office building at Adani Shantigram, located on S.G. Highway, Ahmedabad.The contract envisages overall construction of ground + 13 floors + two basements covering about 300,000 sq. ft. built-up area and has to be completed within 390 day...
Repco Home Finance raises Rs 100 cr by private placement Repco Home Finance Ltd said it raised Rs 100 crore through private placement by allotting 1,000 non-convertible debentures.The face value of the secured redeemable non-convertible debentures are Rs 10 lakh each.Repco Home Finance Ltd (RHFL) is a housing finance company headquartered in Chennai, Tamil Nadu.The company was incorporated in April 20...
91springboard launches 1,000-strong coworking space in Andheri in Mumbai 91springboard, which provides cost-effective offices (working space) to start-ups and freelances, launched its newest center in Andheri East, MIDC, Mumbai.The facility is spread across 3 floors with an overall capacity of over 1000 members and also has a stunning terrace cafe-cum-events area."This terrace workspace promises to be an added bonus ...
Brigade Group to help buyers rent flats using Nest Away services Brigade Group, a leading real estate developer, said it has partnered with Nest Away, a rental solutions provider,to assist its customers in renting out their properties.The service will be provided exclusively to its customers who will now be able to avail a rental default guarantee that assures them timely rent, said the company.Brigade Group will ...
Godrej Properties to build new project on Sarjapur Road in Bangalore Godrej Properties Limited, one of India's real estate developers, said it has acquired a land of approximately 12 acres off Sarjapur Road in South Bangalore to develop a residential housing project of approximately 92,900 sq. mtrs.The project is located close to the commercial and industrial catchment areas of Electronic City Phase I & II, Sarjapur R...
Kolte Patil earns 36% return on Pune real estate project with Portman Holdings Builder Kolte-Patil Developers Ltd said it had generated an internal return rate of 36% on its Margosa Heights project in Pune, which it co-developed with US-based Portman Holdings."This project sets a unique example of an Indian & an International developer/Investor working in partnership on various aspects of the project to deliver a good product & ach...
K Raheja launches ´Viva´ luxury homes at Pune K Raheja Corp launched its latest township project ‘Viva’, at Pirangut in Pune.Viva is spread over 77 acres of land and has independent bungalows, twin villas, townhouses, and plots which is located away from the congested main city, the company said.The project's amenities includes cricket pitch, tennis courts, golf-putting zones, forest adventure t...
Kolte Patil targets 20% pre sale growth, 2,500 deliveries this year Kolte Patil, a real estate builder based in Pune, expects to increase the pre-sales for the current financial year by approximately 20% and is targeting deliveries of around 2,500 units."Uptick in pre-sales is expected to sustain for the rest of the year," company said.Company is also targeting launch of two projects at prime locations in Bengal...