Godrej scores clean sweep, sells all 695 Gurgaon flats in single day

New Delhi: Mumbai-based real estate developer Godrej Properties Ltd on Thursday said it has sold the first phase of its housing project comprising 695 flats, equivalent to 1 million sq. ft. of space, in Gurgaon in one day.

The Mumbai-based real estate developer had yesterday launched the 21- acre housing project in Gurgaon's Sector 104 comprising 1,200 flats with an investment of up to Rs 600 crore.

Pirojsha Godraj, Managing Director & CEO, Godrej Properties said, “We are thrilled to have received this strong vote of confidence from our customers in Gurgaon. We will make every effort to ensure we live up to their expectations by successfully delivering an outstanding project. NCR is the country’s largest real estate market and is a key part of Godrej Properties’ growth strategy."

Sold out: Godrej Summit in Gurgaon

The company expects a revenue of Rs 1,200 crore from this project over the next five years. The project will be build in partnership with Zara Sanya under an area sharing agreement, in which Godrej will hold 65 percent stake.

Spread over 21 acres, Godrej Summit consists of 11-high rise towers and offers approximately 1,200 homes across 2 million sq. ft. of space. Godrej Summit will offer various amenities including a modern community center, a well-equipped gymnasium, swimming pools, meditation areas and a café. Sports facilities such as a squash court, a tennis court, a badminton court, a multipurpose court, a jogging track and a skating rink will also be part of the project. Customers will benefit from a nursery and primary schools as well as retail spaces planned within the project.

Godrej Summit is designed on the principle of sustainability. GPL will use eco-friendly material and will integrate environment-sensitive passive architectural solutions to minimize the carbon emission associated with the development. Features like rainwater harvesting and solar heating and lighting will be incorporated in the project design. Furthermore, 80% of the project will be covered in landscaped gardens and open spaces.

The location offers excellent connectivity and is approximately 500 meters from the proposed 150 meter wide Dwarka Expressway, which is currently under construction. The site is strategically located in the high growth corridor of Gurgaon urban area and is also well connected to the Airport, Railway Station, NH8 and Gurgaon Central Business District. Godrej Summit is a joint development project, which Godrej Properties is developing in partnership with Zara Sanya.