Godrej & Boyce, Godrej Properties to continue alliance for land development in Vikhroli
Godrej Group entities Godrej & Boyce and Godrej Properties, as part of ownership realignment of their shareholdings in the Godrej Companies, have decided to continue their Memorandums of Understanding (MoU) executed from time to time, for development of the former’s land in Mumbai’s eastern suburb Vikhroli.
This proposed development will take place as and when the land owner and developer Godrej & Boyce is desirous of developing the said land, the companies said in a joint release.
“The future development of Vikhroli presents a unique opportunity to create a holistic space in the metropolis of Mumbai where urban development and biodiversity co-exists harmoniously. Godrej Construction and Godrej Properties bring complementary strengths, and this has translated into the launch of successful real estate projects in Vikhroli,” said Jamshyd Godrej, CMD, Godrej & Boyce.
Godrej Construction, a business of Godrej & Boyce, designed and built four phases of Godrej Platinum, residential development project with a total constructed area of 1 million sq ft, which has been marketed by Godrej Properties. In March, a new project Godrej Vistas was launched under this arrangement.
“We look forward to continuing our association with Godrej & Boyce with a view to make Vikhroli into a world-class neighborhood that delivers its residents an outstanding quality of life while ensuring the highest standards of sustainable development,” said Pirojsha Godrej, Executive Chairperson, Godrej Properties.
The Godrej Group owns over 3,400 acres
