Godrej Properties to build complexes countrywide on 82 million square feet of land

Godrej Properties will develop 82 million sq ft across the country, out of which 6.5 million sq ft will be in Kolkata, MD and CEO of the company, Pirojsha Godrej, said.

Announcing the launch of an ultra luxury residential project at upmarket Alipore area, he said the company would build residential and office complexes across the country. Mr Godrej further said that the project would cost Rs 100 crore.

"We hope to get the final approval for the project soon and launch it in the next two months. The size of the apartments will be the region of 3,500-10,000 sq ft," Mr Godrej told reporters on Wednesday.

The company had embarked on projects in the city and suburbs like office complex Godrej Waterside at Salt Lake Electronics Complex and Godrej Prakriti Residential Project at Sodepur in North 24 Parganas near the metropolis.

"Due to slowdown in economic activity, demand for commercial real estate has remained low. We hope that it will pick up over the next few months," he said.

In Kolkata, the company would now focus only on residential projects.