Giving a boost to the property market, that has been witnessing a slowdown during last few years, Godrej Properties on Wednesday said it has sold villas worth over Rs 300 crore on the first day of the launch of 100-acre township in Greater Noida.
Godrej Properties is the real estate arm of the Godrej group. This is the company's first project in Noida-Greater Noida market. Godrej plunged into property market by its township 'Godrej Golf Links' which is being developed as a joint venture with ACE Group, a local developer in NCR.
The company said in a statement that "it has sold over 60,000 sq meters (6 lakh sq ft) of villas with a booking value well in excess of Rs 300 crore in a single day at the launch of its first project, Crest, at its 100 acre township Godrej Golf Links."
"We consider Noida a critical growth opportunity for our company and hope to have many more successful launches in the city," Godrej Properties MD & CEO Pirojsha Godrej said.
Godrej Properties said that this is one of the country’s most successful launches and has come at a time when the NCR market has been witnessing slowdown.
Launched before Diwali, the first project in the township Crest, contains villas of various sizes and configurations. Godrej Properties is currently developing residential, commercial and township projects spread across approximately 11.98 million square meters (129 million square feet) in 12 cities.