Real Estate Mumbai

Godrej Properties Clears the Air on Kandivali Residential Project

By GeoSquare News Desk · Published 2024-05-28

Godrej Properties has provided a clarification to the National Stock Exchange (NSE) regarding the Godrej Reserve Project in Kandivali, Mumbai. The project has a developable potential of around 3.72 million square foot (msf) and has an estimated revenue potential of around Rs 7,000 crore.

In response to NSE's query, Godrej Properties stated that they have not received any communication from concerned authorities citing non-compliance on their part. The developer has taken all requisite approvals from concerned authorities for development of the project and is certain that all approvals related to the project are intact.

The project has been in the news due to its proximity to the Indian Army's Central Ordnance Depot (COD), which led to objections on its development. However, Godrej Properties has clarified that they are not aware of any information that required disclosure under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Godrej Properties is a leading real estate developer in India, known for its innovative and sustainable developments. The company has a strong track record of delivering projects on time and has won numerous awards for its contributions to the real estate industry.

Godrej Properties is a part of the Godrej Group, a reputed business conglomerate in India. The company is committed to delivering exceptional customer experiences and creating value for all its stakeholders.