Godrej Properties Ltd. said it has sold houses worth Rs 1,002 crore in its municipality in Pune so far.

The company sold more than 1,550 homes in the current fiscal year, covering more than 1.5 million square feet, in its Riverhills township project in Mahalunge, Pune, according to a regulatory filing.

Since the launch of the first phase in the township in September 2019, the company has sold more than 3,600 homes covering an area of ​​3.4 million square meters and a booking value of over Rs 2,100 crore.

“Customer confidence is a reflection of the increasing demand for community and integrated developments by renowned developers,” said Mohit Malhotra, managing director and chief executive officer of Godrej Properties.

Riverhills is a mixed-use community nestled amid a river and hillside with over 8 acres of accessible greens. This is one of the first townships in the proposed 283-hectare Mahalunge Maan Hi-Tech City, and is close to residential hub Baner and IT hub Hinjewadi, according to the application.

Godrej Properties on Thursday announced the sale of 855 homes worth Rs 1,650 crore within a year of the launch of its ‘Godrej Woods’ project in Noida.

The company is likely to achieve high sales bookings in 2021-2022, beating last year’s record of Rs 6,725 crore.

According to real estate advisor Anarock, sales in the seven largest cities increased by 71% year-on-year to 236,530 units in 2021. PropTiger.com said home sales in eight major cities are up 13% in 2021 to 2,05,936 units.

This post Godrej Properties is selling houses worth Rs 1,002 Crore so far this fiscal in Pune Township

was original published at “https://www.bloombergquint.com/business/godrej-properties-sells-homes-worth-rs-1002-crore-so-far-this-fiscal-in-pune-township”