Godrej Properties sells 300 flats worth Rs 700 crore in Mumbai

The real estate division of Godrej Group had launched The Trees, its flagship project in the Vikroli suburb of Mumbai about two weeks ago. Out of the 374 flats in the offing, 300 have already been sold in the first week of its launch, the company said in a statement.

Besides a residential complex, The Trees comprises commercial development spread across 9.4 acres. Godrej One and the Godrej Group’s global headquarters have already been developed. This project is a central mixed-use zone which will house a 5-star luxury hotel, cultural buildings, luxury residential, and retail spaces, the company statement reads.

The residential development is expected to cover over 6.7 acres and the first phase will have a sale able area of 5 lakh sq ft.

“The value of apartments sold in The Trees during the first week is in excess of 700 crore making it our most successful launch. We are thrilled with the customer response to the project and will ensure we deliver an exceptional product to our customers,” Pirojsha Godrej, Managing Director & CEO, Godrej Properties said.

Godrej Properties Launches ‘The Trees’ in Vikhroli

Godrej Properties on Thursday launched The Trees, a flagship project spread over 34 acres of land, the Mumbai based real estate arm of the Godrej Group said in a report filed with the BSE.

In the first phase, the company plans to develop a residential project that will have a total of 374 apartments with a sale able area of nearly 5 lakh square feet.

The Trees consists of 1 BHK, 2 BHK, 2.5 BHK, 3 BHK, and 3.5 BHK apartments with carpet areas ranging from 480 square feet to 1,334 square feet. The project will also build Penthouses with carpet areas ranging from 2,043 square feet to 2,465 square feet.

The shares of Godrej Properties jumped nearly 5 per cent intra day on the news of this launch.