Go­drej Prop­er­ties is go­ing to ven­ture projects in Noida

Accommodation Times - - .. Nation.. -

Go­drej Prop­er­ties Ltd. is plan­ning to ven­ture their projects in Noida and aims to make pres­ence in Noida real es­tate mar­ket, but they are is search for a part­ner to de­velop a hous­ing project, a The real es­tate arm of the Go­drej group is de­vel­op­ing 3 pre­mium hous­ing projects in Gur­gaon in joint ven­ture with land own­ers and has al­ready tied up for a res­i­den­tial project in Okhla, Delhi. Go­drej Prop­er­ties has a strat­egy to de­velop real es­tate projects through joint ven­tures with land own­ers.

”Mum­bai, Delhi-NCR and Ban­ga­lore are our ma­jor mar­kets. We are look­ing at more projects in Delhi-NCR,” Go­drej Prop­er­ties Man­ag­ing Di­rec­tor and CEO Piro­jsha Go­drej told PTI when asked about ex­pan­sion plan in the na­tional cap­i­tal re­gion. On plans to en­ter Noida mar­ket, he said: “We do not have pres­ence in Noida which is a key mar­ket in Delhi-NCR. We are look­ing to add projects in this mar­ket as well.” The com­pany is in talks with a few po­ten­tial part­ners for de­vel­op­ing a hous­ing project in Noida, he said, adding “it is a good time to add new projects as real es­tate mar­ket is fac­ing slow­down”. In June 2013, Go­drej Prop­er­ties had an­nounced its foray into the Delhi property mar­ket by sign­ing a de­vel­op­ment agree­ment with Southend In­fra­struc­ture for 5-acre lux­ury group hous­ing project at Okhla.

The com­pany is per­form­ing well de­spite the slow­down in real es­tate mar­ket, Go­drej said, adding that it will launch more projects than last fis­cal when it launched 10 new projects or new phase of ex­ist­ing projects. He said the com­pany will con­tinue with the strat­egy to add projects through JVs and won’t opt for out­right land pur­chase.

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