Realty firm Godrej Properties is expecting a sales revenue of about Rs 3,000 crore over the next 6-7 years from a new township in Greater Noida where the company sold properties worth over Rs 300 crore on the first day of launch.
Godrej Properties, the real estate arm of Godrej Group, will launch more projects during this fiscal year and announce new tie-ups for future development, its managing director and CEO Pirojsha Godrej told PTI.
The Mumbai-based developer had last month forayed into the Noida-Greater Noida property market with the launch of a 100-acre township in partnership with local builder Ace Group. (Read: Godrej Properties sells villas worth Rs 300 crore in a day in Greater Noida project)
The company has launched the first phase comprising one million square feet of villas, he said, adding that the total development potential in this township is about 4.5 million square feet, mostly villas and some group housing.
Launched before Diwali, the first project in the township – Crest – contains villas of various sizes and configurations. Mr Godrej said the company also plans to launch Noida project by end of this financial year. The company has partnered local developer Lotus Greens to enter Noida property market.
On overall sales bookings expectation for fiscal year 2016-17, Mr Godrej said: “We don’t give sales guidance. We did record sales bookings of Rs 5,038 crore last fiscal, helped by Rs 1,500 crore commercial space deal at Godrej BKC in Mumbai.”