Godrej Properties, one of India’s real estate developers, launched its latest project, Emerald, on Ghodbunder Road in Thane.
Built over 6.25 acres, the “premium project” offers a total saleable area of approximately 1.35 million square feet, said the company.
The first phase of the project will consist of three high-rise residential towers where customers will have the option to choose from 1.5 BHK, 2 BHK, and 3 BHK apartments ranging from 990 square feet to 1,571 square feet, the company added.
The project will overlook the Yeoor hills.
“The landscape and the central greens shall be developed to represent a natural extension of the greens of the Yeoor Hills and the entire development’s design will provide ample natural sunlight and ventilation at all levels of the towers,” the company said.
The development will include a fully equipped clubhouse, amphitheater, meditation pavilion, swimming pool, fitness centre, kids play area, senior citizen corner, jogging track, multi-purpose court and landscaped central greens.
It will also include rainwater harvesting, solar panels and energy efficient lighting.
Godrej Emerald is connected via the Eastern and Western Express Highways, the Mumbai Suburban Railway and the upcoming Metro and Monorail projects, the company further added.
The launch comes at a time when the Mumbai real estate market is at a low with large numbers of properties being left unoccupied. With prices slipping, new project launches have declined drastically. Premium builders such as Godrej, however, have been less affected by the slowdown.
Emerald is being jointly developed by Godrej Properties and Thane-based Vihang Group.