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Godrej Properties, a real estate firm launched a luxury housing project in Gurugram with an estimated revenue potential of around Rs 3,000 crore, as it seeks to capitalise on an increase in demand for premium residential properties.
The company will build nearly 750 apartments in the 9.5-acre ‘Godrej Aristocrat’ housing project in Gurugram’s Sector 49. The starting price per unit is around Rs 4 crore.
Godrej Properties, according to real estate consultants, has begun soliciting expressions of interest (EOI) from potential homebuyers and has already received over 1,200 EOIs. According to market sources, the company expects to earn around Rs 3,000 crore from this project.
Project Overview Of Godrej Aristocrat, Sector 49
Godrej Aristocrat is a harmonious blend of luxury and nature located in Sector 49, Gurgaon. This prestigious residential development offers thoughtfully designed 3 & 4 BHK homes starting at 3.85 Crore*.
Dive into opulence at Godrej Aristocrat, where a 45,000-square-foot clubhouse, smart home features, and an array of amenities await, promising a sophisticated and serene lifestyle.
Godrej Aristocrat is more than a home; it’s a way of life. It redefines urban living by providing a haven of tranquillity as well as a vibrant community where families thrive. Discover the pinnacle of refined living at Godrej Aristocrat, your Gurgaon sanctuary.
Location Advantages Of Godrej Aristocrat Gurgaon
Sector 49 in Gurgaon is quickly becoming a sought-after address for upscale living in the housing market. Its strategic location provides a wide range of housing options, from modern apartment complexes to spacious villas, attracting a large number of buyers and investors.
Furthermore, with easy access to nearby areas such as Sector 48, South City 2, and Golf Course Ext Road, it’s quickly becoming a favourite among property enthusiasts. It’s worth noting that Sector 49 isn’t just about homes; its commercial spaces are also gaining attention, expanding its investment potential.
Sector 49, strategically located in Gurgaon, is more than just a piece of land; it is a landscape brimming with opportunities. It extends an irresistible call to potential investors by combining residential comfort and commercial prowess.
Gurugram Housing Market Attracting Homebuyers And Investors
Despite a sharp increase in prices, real estate consultant Anarock Vice Chairman Santhosh Kumar said the Gurugram housing market remains buoyant. In March, DLF Ltd sold 1,137 luxury apartments priced at Rs 7 crore and above in its Gurugram housing project in three days for more than Rs 8,000 crore.
Sachin Gawri, co-founder of property brokerage firm RISE Infraventures Ltd, stated, “Housing demand in Gurugram is good, particularly from end-users.” As the city’s prices have risen sharply, investors have become more cautious.”
Godrej Properties increased its sales bookings by 48% between April and September 2023-24, to Rs 7,288 crore from Rs 4,929 crore the previous year. The Delhi-NCR market contributed Rs 3,186 crore to the total sales booking of Rs 7,288 crore in the first six months of this fiscal.
Its housing project ‘Godrej Tropical Isle’ in Sector 146, Noida, contributed Rs 2,016 crore in sales. Pirojsha Godrej, Executive Chairperson of Godrej Properties, stated last month.
Godrej Properties Expected Sales Target For Year 2023-2024
Godrej Properties has an aggressive launch pipeline in four focus markets in the second half of this fiscal year: Delhi-NCR, Mumbai Metropolitan Region (MMR), Pune, and Bengaluru.
Pirojsha is confident that the company will meet its target of selling properties worth Rs 14,000 crore this fiscal year due to strong demand for its current and upcoming housing projects.
Godrej Properties, the Godrej Group’s real estate arm, sold properties worth Rs 12,232 crore in the previous fiscal year.
On the financial front, the company recently reported a 22% increase in its consolidated net profit to Rs 66.80 crore in the September quarter of this fiscal year, up from Rs 54.96 crore the previous year.
Source-ET
