Godrej looking to develop factory land | INRnews
The group has plum factory land in cities like Mumbai and Chennai that could be redeveloped via a joint venture between the respective group company and Godrej Properties.
Godrej Properties was established in 1990 as a real estate development company within the Godrej Group of businesses. The company has completed several landmark projects in Mumbai and Pune and is currently developing significant projects such as the 9 acre Planet Godrej in central Mumbai and the 20 acre Godrej Woodsman Estate in Bangalore. The Godrej Group sees its property development business as a major thrust area. The Indian property development sector is already amongst the fastest growing in the world and in the coming decades, is likely to emerge as one of the largest in the world.
The Company believes that freeing of FSI will allow for dramatic improvement in the availability of housing and making prices more affordable. Needless to say, such a development would also impact the development potential for the factory land.
By INRnews Correspondent