Real estate company Godrej Properties Ltd has sold around 90 flats for more than ₹1,000 crore on the launch day of its new luxury housing project at Gurugram, despite an overall demand slowdown in residential property market.
In a regulatory filing on Friday, the company said around 90 flats were sold on the launch day of its project ‘Godrej Astra’ located on Golf Course Road micro-market.
The project is spread over 2.76 acres.
This is the company’s second launch in the prime Golf Course Road micro-market.
Related Stories
Microsoft’s 50-day global AI Skills Fest begins April 8
Eyes Guinness World Record on Day One
“Gurugram is an extremely important market for Godrej Properties and we look forward to further strengthening our presence there in the coming years,” Gaurav Pandey, MD & CEO, Godrej Properties, said.
Godrej Properties is one of the leading real estate developers in the country.
Related Stories
Gold rises to record as trade war concerns drive haven demand
Mounting fears about the potential impacts of an escalating trade war overshadowed data showing the US economy expanded at a quicker pace in the fourth quarter than previously estimated
Recently, real estate data analytics firm PropEquity said that housing sales declined 23 per cent in January-March across nine major cities, while housing brokerage firm Anarock reported a 28 per cent drop in sales this quarter across seven major cities.
Despite an overall demand slowdown, big-branded listed developers continue to report healthy sales in their newly launched residential projects.
Related Stories
KRAFTON acquires controlling stake in Nautilus Mobile; invests ₹118 crore
Merger expected to drive innovation, expand KRAFTON’s market reach, and create opportunities for Indian game developers
Post-COVID, there has been a shift in consumer demand towards reputed players from fly-by-night operators and unreliable builders.
