Ahmedabad: Godrej Properties Ltd (GPL), the real estate arm of Godrej group, is going to launch the fifth phase of Godrej Garden City (GGC) township project here soon, a top company official said on Wednesday.
"The phase five of this township project shall have 1.8 million sq ft of land...Around 1,200 to 1,500 units. Currently its sub-phases are being worked out," Godrej Properties CEO Pirojsha Godrej told reporters here.
"So far four million square feet (3,300 units) in the township has been launched, of which 90 per cent (2,900 units) has been sold. The total size of the project is 24 million square feet which proposes to have 13,000 units," he said.
The company plans to give possession of first phase bookings for 888 units in the GGC ahead of the scheduled delivery time in September this year.
The property prices at GCC have escalated from Rs 2,200 per sq ft at launch around two years ago to nearly Rs 3,000 per sq ft. The company had launched 888 units in first phase.
GCC is one of the two projects in India and amongst 17 worldwide to be chosen as a partner by the Clinton Climate Initiative with the goal of achieving a climate-positive development.
GPL has tied up with Singapore-based Global Indian International School (GIIS) for setting up an education facility within the township.
The company, with 77 million sq ft portfolio and focus on residential housing, says that project launches this year would be bigger than the last year.
"We had launched 10 new projects last year which was a record and this year launches shall be greater than last year. Two new projects have already been added in the first quarter of this fiscal, one of three lakh sq ft at Byculla in Mumbai and another of two lakh sq ft in Kolkata," Godrej said.
"In Gujarat, we are now looking at Surat," he added.
First Published: Wednesday, June 20, 2012, 18:11