Godrej Properties has extended its existing agreement with Shivam Realty, a Mumbai-based property developer, to develop a residential group housing project near the Akurli crossroad in Mumbai’s Kandivali suburb of Hanuman Nagar. This project is a continuation of Godrej Tranquil and Godrej Nest, and will have a total saleable area of around 7 lakh sq ft.
It’s being built as a modern residential complex with apartments in a variety of configurations and a potential booking value of Rs 1,000 crore. Mohit Malhotra, MD & CEO of Godrej Properties, stated that the company is pleased to add this project to its portfolio because Kandivali is a developed micro-market, and extending its existing projects in the area fits well with the company’s strategy of deepening its presence in key micro-markets across India. With multiple schools, hospitals, retail malls, and residential and commercial spaces nearby, the land parcel is strategically located with easy access to the Western Express Highway and offers a well-developed social and civic infrastructure.