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Godrej Group eyes the Realty sector

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Flurry of beneficial realty contracts was supporting many worldwide companies to control the huge compensation which was approaching from the property market in India. Godrej Group was added to the list which was usually recognized with the FMCG and by the client robust products. This important corporation had decided to make the land development as its center of attraction. The reports said the www.propertykhazana.com that auctions of the land had barely accounted for 7% of its huge corporation with the profits for more than Rs. 5,500 Crores. The customized business proposals of the group had also comprised by opening its immense property wealth in Mumbai and 2000 acres of property in Vikhroli Estate in Mumbai’s North East periphery. Adi Godrej told that, “Godrej grabs a remarkable brand ‘Image’ further which had been useful for the company’s real estate products.” Growing up of the property which is in Vikhroli had taken as JV among the property holding companies Godrej Industries & Boyce and the Realty section Godrej Properties.
Source also revealed saying the www.propertykhazana.com that the company was proposing to hike substantial funds through the IPO to finance a swing of expansion plan to give the real estate section a huge foundation. Big section of the company’s manufacturing unit which was at Vikhroli had moved to Himachal Pradesh and had evacuated 3 Million Sq.Ft property. Godrej Group was in speed to carry the other property holdings into its land development and in Bangalore 100 acres of property was purchased by Godrej Agrovet for chick breeding and later it was used for the development. Company was not only using its own ownership but had purchased more properties to make its dream come true. GP had purchased 34 acres of property near Hyderabad from Rallis India for consideration of Rs. 57 Crores and the company had proposed to construct a huge 6 Million Sq.ft IT Park or an IT SEZ. Company had converted its old AMCO industrial unit into Housing complex with 3,000 flats in Bangalore and it had enjoyed a position of being main valued trade residences in India.

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