Godrej Properties enters Noida, to develop residential project

City-based realty player Godrej Properties (GPL) has entered into a development management agreement to develop a residential group housing project in Noida.

Spread over 36 acre, the project will offer around four million sqft of saleable area and will be developed as a modern residential development comprising apartments of various configurations, the company said in a statement.

This is GPL's first project in Noida and sixth within the National Capital Region (NCR), it said. "We have seen strong growth in the scale of our operations in NCR and look forward to building on this momentum through our entry into Noida, which is one of the country's leading real estate markets," its Managing Director and CEO Pirojsha Godrej said.

Within five years of entering the NCR market, Godrej Properties has established itself as one of the market leaders in Gurgaon in last fiscal and hopes to replicate this success in Noida, he said.

Godrej Properties is developing residential, commercial and township projects spread across 115 million sqft in 12 cities.