Godrej Properties sells homes worth INR ~2,690 crores at the launch of its project Godrej Reserve in Mumbai

Godrej Properties Ltd. (GPL), (BSE scrip id: GODREJPROP), one of India’s leading real estate developers, today announced that it has sold inventory worth INR ~2,690 crores in its project, Godrej Reserve, located in Kandivali, Mumbai. Launched within fifteen months of acquiring the land, this is GPL’s most successful launch ever in Mumbai in terms of the value and volume of sales achieved.

Godrej Reserve has a developable potential of ~ 3.72 million square feet with an estimated revenue potential of approximately INR 7,000 crore*. The project has significant unlaunched inventory remaining, which the company plans to sell in the coming years. This is one of GPL’s largest residential developments and significantly enhances its presence in the western suburbs of Mumbai.

Kandivali is an established residential location in Mumbai that provides access to well-developed social and civic infrastructure with multiple schools, health facilities, retail malls, and entertainment outlets. The area provides good connectivity to the Western Express Highway, Metro & Suburban Railway Stations. The introduction of a metro line connecting Kandivali, Dahisar, and Andheri has significantly reduced travel time, enhancing the area’s connectivity and making daily commuting more convenient.

Mr. Gaurav Pandey, MD & CEO, Godrej Properties, said, “We are delighted with the response to our project, Godrej Reserve. This has now become the best-ever launch in Mumbai residential real estate.  We’d like to take this opportunity to sincerely thank our customers and all stakeholders for their trust and confidence in Godrej Properties. We will do our best to ensure Godrej Reserve offers its residents an outstanding living experience