Godrej goes for 1-mn sq.ft realty project in NCR

Adding to its project portfolio in the commercial real estate sector, Godrej Properties has entered into a joint venture agreement with Hero Cycles to develop one million sq.ft of prime office space in Gurugram. The realty builder and Godrej Fund Management, the real estate private equity arm of the group, has inked the deal to develop, lease, and manage the prime office and retail space on the four-acre Golf Course Road property, Executive Chairman, Godrej Properties, and Chairman, Godrej Fund Management, Pirojsha Godrej said. The project is situated in one of the most desirable commercial locations in the country. The site is in close proximity to a multitude of established and leading commercial, retail, and residential destinations. Godrej Fund Management and Godrej Properties together combine superior investment management capabilities with best-in-class development capabilities will do its best to ensure this development becomes a landmark in NCR. Godrej Properties is looking at penetrating deeper in top four markets of Mumbai, Bengaluru, NCR, and Pune, and the joint venture will strengthen Godrej’s presence in the NCR market, the statement added.