Godrej Properties’ Pune project clocks ₹2,100 crore sales

March 21, 2022
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Godrej Properties has sold 1,550 homes for ₹1,002 crore in the current financial so far

Godrej Properties Ltd on Monday said the company has sold homes worth ₹1,002 crore so far this fiscal in its township at Pune, Maharashtra.

In a regulatory filing, Goderej Properties Ltd (GPL) informed that it has “achieved FY22 sales worth ₹1,002 crore for its township project Riverhills in Mahalunge, Pune”.

The company has sold over 1,550 homes, comprising over 1.5 million square feet area, in the current financial year in this township project.

Since the launch of its first phase in the township in September 2019, GPL has sold over 3,600 homes with 3.4 million square feet of area and a booking value of over ₹2,100 crore.

Mohit Malhotra, MD & CEO, Godrej Properties, said, “The customer’s confidence is a reflection of the increasing demand for community and integrated developments by reputed developers”.

Riverhills is a mixed-use township, nestled amidst a river and a hill with over 8 hectares of accessible greens, GPL said.

This is one of the first townships in the proposed 283 hectares Mahalunge Maan Hi-Tech City and is close to residential hub Baner and IT hub Hinjewadi, according to the filing.

On Thursday, GPL had announced the sale of 855 homes worth ₹1,650 crore within a year of the launch of its project ‘Godrej Woods’ in Noida.

The company is likely to achieve all-time high sale bookings in the 2021-22 financial year, beating the last year’s record of ₹6,725 crore.

Housing brokerage firm Anarock reported that sales across the top seven cities rose 71 per cent year-on-year in 2021 to 2,36,530 units.

According to real estate consultant PropTiger.com, housing sales across eight major cities increased 13 per cent in 2021 to 2,05,936 units from 1,82,639 units in the previous year.

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March 21, 2022

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