GODREJ LAUNCHES THE TREES, PHASE 3 RESIDENTIAL

MUMBAI-BASED developer Godrej Properties, has launched phase II of its flagship residential project called The Trees in Mumbai after successfully selling phaseII, which was launched in November 2015. Spread across 34 acres, The Trees is one of the largest mixed use real estate projects in Mumbai and is the first step towards the greater development opportunity that will unfold in the eastern suburb of MumbaiVikhroli With overwhelming response for its phase - I residential project, the company sold 348 apartments for a total of Rs 862 crore within a month of the project launch, a statement issued by the firm said.

The second phase of residences comprises of a total of 256 apartments with a saleable areaofapproximately3,44,000sq.ft.Withan approximate base price of Rs 16,300 per sq.ft., the apartments will cost between Rs 1.6 crore and Rs 9.5 crore. Customers can choose from 1 BHK, 2 BHK, 2.5 BHK, 3 BHK, 3.5 BHK apartments, duplexes and penthouses with carpet areas ranging from 463 sq.ft. to 1,151 sq.ft. Duplexes and penthouses are offered in the range of 1,553 sq.ft.to2,215sq.ft.Theprojectcomprisesof four towers of 18 floors each and one tower of 12 floors.

All these residences offer premium specifications and are designed to offer spectacular views, the company said in a statement. It said the construction of phaseII would start in the second half of 2016 and it would take about four years to be ready for possession. “We are very excited to launch the second phase of The Trees. Vikhroli has been integral to the Godrej Group’s history and it is our hope to transform it into a fully integrated city-within-a-city that offers its residents the highest quality of urban life,” Pirojsha Godrej, Managing Director and CEO at Godrej Properties told Financial Chronicle.

“The Trees is Godrej Properties' mixed use flagship project at Vikhroli. Our international award winning development has world class amenities, verdant green cover and views towardsMumbai'sbestpreservedmangroves, enviableairqualityandavibrantlyprogrammed public realm to offer residents a unique live, work, learn and play lifestyle,” said Anubhav Gupta, Chief Design Officer and Head, CSR and Sustainability at Godrej Properties.

He claimed that 95 per cent of the residential units of its phase - I residential project has already been sold out. “Building on this interest, we have just launched phase - II, which offers some of the best views and aspects that the city has to offer,” Gupta said. Situated in the heart of the city, Vikhroli is well-connected to all of Mumbai’s major transit points and business hubs. The Trees is just 0.1 km from the Eastern Express Highway and offers connectivity to BKC through the Santacruz Link Road (SCLR) in just 15 minutes and to Fort through the Eastern Freeway in just 30 minutes.

Independent View

“Strategically situated in the heart of the maximum city, Vikhroli is well connected to all of Mumbai’s major transit points and business districts. What works really well for

Vikhroli is its proximity to the Eastern Express Highway, which offers excellent connectivity to Fort (Mumbai) by reducing travel time to less than 30 minutes. Also, the Santacruz Link Road (SCLR) enables easy commuting to the major business district of BKC in just 15 minutes.

Some of the future planned infrastructure projects in the city, including the bridge from Nava Sheva to Sewri and the proposed new international airport at Navi Mumbai, will provide much needed impetus to the real estate profile of Vikhroli and the entire eastern belt.” - Ramesh Nair, COO - Business & InternationalDirector,JLLIndia.

GODREJ PROPERTIES SELLS 1000 FLATS FOR RS. 1,000 CR

Realty firm Godrej Properties today said it has sold over 1,000 apartments since March in its three new housing projects at Mumbai, Pune and Greater Noida for around. Rs 1,000 crore. Godrej Properties said in a statement it has “Sold over 1,000 apartments across three new project launches - Godrej Origins at The Trees in Mumbai, The Suites at Godrej Golf Links in Greater Noida, and Godrej 24 at Hinjawadi, Pune - since March 2017. Mumbai-based developer, which is a real estate firm of Godrej group,sold130flatsintheMumbaiproject,500 flats in Greater Noida and over 450 units in Pune. When contacted, Godrej Properties Executive Chairman Pirojsha Godrej said the sales value of these apartments is “almost Rs 1,000crore.”Statingthatthecompanyhasgot astrongresponsetoitsnewlaunches,hesaid, “Welookforwardtobuildingonthismomentum inthemonthsahead.”