MUMBAI, September 24, 2018 /PRNewswire/ --
JLL, India's largest real estate services firm, today negotiated a marquee land deal and development arrangement between Godrej Properties Limited (GPL) and North India-based real estate developer - Shipra Group. GPL has acquired 11 acres of land in close proximity of Noida Golf Course.
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Godrej Properties and Shipra Group will be jointly developing a premium housing project of around 2.2 million sq. ft. in Sector 43 of Noida City Centre. Noida was ranked as the Best City in Uttar Pradesh and the Best City in Housing in all of India in 'Best City Awards' conducted by ABP News in 2015.
The upcoming premium housing project is well surrounded by good social and physical infrastructure with excellent connectivity to offices in Sector 125, 126 and 127. This is the third such assignment facilitated by JLL for Godrej Properties in the Northern part of the country.
Ramesh Nair, CEO & Country Head, JLL India, said, "One of the prime areas of Noida, located strategically near the Noida Golf Course, the location enjoys good connectivity through road and MRTS with the Golf Course Metro station in proximity. It has a well-developed infrastructure and is in the vicinity of well-established high-end residential developments, retail hubs, educational institutes as well as office complexes. The location has an excellent market potential and the deal would further enhance its value, thereby establishing it as a most sought after residential zone in the region. Godrej Properties is known for creating bespoke experiences for its customers and I am sure, this premium development will further enhance the area profile."
Godrej Properties Limited Executive Chairman Pirojsha Godrej said, "This strengthens our development portfolio in NCR and fits well with our strategy of deepening our presence across India's leading cities. We will seek to create development that delivers a great experience for its residents. The project will offer approximately 2.2 million sq.ft. of saleable area and will be developed as a premium group housing development."
The Noida residential market received a total supply of 5,093 residential units and registered sales of 5,664 residential units in H1 2018. The mentioned area, being centrally located in the heart of Noida, also has prime retail spaces and recreation options such as DLF's Mall of India, The Great India Place as well as the commercial hub of Noida, Sector 18 market in the same vicinity. The location is also close to the Noida-Greater Noida Expressway having state-of-the-art office complexes in Sector 125, 126 and 127. The project would definitely be a lucrative investment option, both for end users and investors, facilitating further growth.
About JLL India
JLL is India's premier and largest professional services firm specialising in real estate. With an unaudited revenue for FY 2017-18 at INR 3,400 crores, the firm is growing from strength to strength in India for over the past 20 years. JLL India has an extensive geographic footprint across 10 cities (Ahmedabad, Delhi, Mumbai, Bengaluru, Pune, Chennai, Hyderabad, Kolkata, Kochi and Coimbatore) and a staff strength of over 10,000. The Firm provides investors, developers, local corporates and multinational companies with a comprehensive range of services. This includes research, strategic advisory & consultancy, capital markets, transaction management, project & development services, integrated facilities management and property & asset management. These services cover various asset classes such as commercial, residential, industrial, retail, warehouse and logistics, hospitality, healthcare, senior living and education.
JLL India won the Five-Star Award for Best Property Consultancy at the International Property Awards Asia Pacific 2018 -19. The firm is recognised amongst the top 100 Best Places to Work in India for two consecutive years in 2017 and 2018 in the annual survey of 'India's Best Companies to Work For' - a joint study conducted by Great Place to Work® and The Economic Times. It has also been acknowledged as 'Property Consultant of the Decade' at the 10th CNBC-Awaaz Real Estate Awards 2015. For further information, please visit http://www.jll.co.in.
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