Godrej Properties acquires Raj Kapoor’s Bungalow

New Delhi: Godrej Properties Ltd has actually gotten epic movie star, supervisor as well as manufacturer Raj Kapoor’s Bungalow at Chembur in Mumbai to establish a high-end real estate task with a sales possibility of Rs 500 crore. The land was bought from the Kapoor family members, lawful successors of Raj Kapoor, the firm claimed in a governing declaring.

Godrej Properties Executive Chairman Pirojsha Godrej claimed, “The total size of the land is around 1 acre. We will develop a premium housing project on this land parcel. The project will have an estimated sales revenue potential of about Rs 500 crore.” He did not divulge the bargain worth mentioning discretion.

When gotten in touch with, real estate expert Anarock Chairman Anuj Puri claimed: “The market rate of one acre land at Chembur will be Rs 100-110 crore. Chembur is a vibrant residential market with good connectivity to BKC (Bandra Kurla Complex).” He claimed several programmers have actually introduced high-end tasks in Chembur as well as the need for such exceptional residences is solid throughout Mumbai city.

Godrej Properties claimed in a declaring that the website lies at Deonar Farm Road, Chembur, Mumbai, beside Tata Institute of Social Sciences (TISS). In May 2019, Godrej Properties had actually gotten R K Studios in Chembur from the Kapoor family members to establish a costs mixed-use task Godrej RKS. The task is anticipated to be provided thisyear

Gaurav Pandey, MD as well as CEO, Godrej Properties, claimed, “We are pleased to add this iconic project to our portfolio and are grateful to the Kapoor family for entrusting us with this opportunity.” The need for costs advancements has actually been solid over the previous couple of years, he claimed, including this task will certainly enable the firm to additional reinforce its existence inChembur

Commenting on the bargain, movie star Randhir Kapoor – child of late Raj Kapoor – claimed, “This residential property in Chembur has been of great emotional and historical significance to our family. We are happy to once again associate with Godrej Properties to take forward this rich legacy for the next phase of development for this location.”

Godrej Properties, which becomes part of business corporation Godrej Group, is just one of the leading real estate programmers in thecountry It has a considerable existence in Mumbai Metropolitan Region (MMR), Delhi- NCR, Pune as well asBengaluru To broaden company in the middle of solid real estate need, Godrej Properties has actually gotten greater than 15 land parcels up until now this monetary with sales possibility of about Rs 28,000 crore as well as seeks to include even more land by March to build brand-new tasks. Pirojha Godrej had claimed the firm’s brand-new company development – which indicates acquisition of land parcels via straight-out acquisitions as well as joint endeavors with landowners to construct brand-new tasks – will certainly go across at the very least Rs 30,000 crore in the 2022-23 monetary year, dual than the yearly advice of Rs 15,000 crore.

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