MUMBAI: Godrej Properties, the real estate development arm of the Godrej Group, has sold 300 apartments within one week at its newly launched project The Trees at Mumbai's Vikhroli suburb, the company said in a statement.
This represents over 80 per cent of the 374 apartments the developer had opened for sale in the first phase of this project. The value of apartments sold is in excess of 700 crores making this Godrej Properties' most successful ever launch in terms of value of real estate sold, the company said.
Shares of Godrej PropertiesBSE 1.94 % surged over 5 per cent following the company's announcement of achieving good bookings at their flagship project.
"We are thrilled with the customer response to the launch of The Trees in Vikhroli. We will do everything possible to ensure we deliver our customers an outstanding and innovative project," Pirojsha Godrej, Managing Director & CEO, Godrej Properties.
The project will include commercial development spread across 9.4 acres including Godrej One and the Godrej Group's global headquarters that has already been developed.
The central mixed-use zone, spread over 9.2 acres, will comprise a 5-star luxury hotel, cultural buildings, luxury residential, and retail space, the developer said in a statement.
The residential development will be spread over 6.7 acres and the first phase will have a saleable area of 5 lakh sq ft.