In response to the burgeoning demand for premium residential properties in Gurugram, Godrej Properties is gearing up to launch its latest luxury housing project, ‘Godrej Aristocrat,’ situated in Sector 49. Spanning 9.5 acres, this upscale development is poised to generate an estimated revenue of Rs 3,000 crore, signaling a strategic move by the realty giant to capitalize on the city’s robust housing market.
Unprecedented Interest – Over 1,200 Expressions of Interest Received
To kickstart this ambitious venture, Godrej Properties has actively sought expressions of interest (EOI) from potential homebuyers, resulting in an impressive response of more than 1,200 EOIs. The company aims to develop approximately 750 high-end apartments, with an enticing starting price point of Rs 4 crore per unit. Industry experts predict a substantial revenue influx for Godrej Properties, affirming the sustained demand for luxury living spaces in Gurugram.
Market Resilience in Gurugram Despite Price Appreciation
Despite a notable surge in property prices, Gurugram’s real estate market remains resilient, according to insights from Anarock Vice Chairman Santhosh Kumar. Notably, DLF Ltd’s recent success in selling 1,137 luxury apartments priced at Rs 7 crore and above within three days attests to the robust demand in the region. In this scenario, Godrej Properties’ strategic move to cater to end-users in Gurugram aligns with the market dynamics.
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Continued Growth – Godrej Properties Achieves 48% Sales Growth in H1 2023-24
Highlighting its continued success, Godrej Properties reported a remarkable 48% growth in sales bookings during the April-September period of 2023-24. The sales tally surged from Rs 4,929 crore to an impressive Rs 7,288 crore, with the Delhi-NCR market contributing significantly, accounting for sales worth Rs 3,186 crore. In addition, ‘Godrej Tropical Isle’ at Sector 146, Noida, played a pivotal role, contributing sales amounting to Rs 2,016 crore. Pirojsha Godrej, Executive Chairperson of Godrej Properties, expressed optimism about the company’s trajectory in the dynamic real estate landscape.
In conclusion, Godrej Properties’ strategic foray into the luxury housing segment in Gurugram, coupled with Letsdigg’s commitment to empowering investors, underscores a vision for sustained growth and prosperity in the ever-evolving real estate domain.