What Demonetization? Godrej Properties sells 300 flats in Pune in 2 months

Godrej Properties said it has sold over 300 out of the 400 apartments put up for sale at its Godrej Greens project in Pune.

The sale comes in the backdrop of a slow real estate market complicated by a recent crackdown on ‘black money’ or tax evasion. The crack down was widely seen as throwing the real estate sector into a virtual freeze.

The Greens project was launched two months ago, roughly at the same time as Modi announced his anti black money program.

The number represents “more than 75% of the 400 apartments that were opened for sale, making this one of the most successful recent residential launches,” the Mumbai-based company said.

Godrej Greens offers compact 2BHK and 3BHK apartments with carpet areas ranging from 52.3 sq. m. to 82.5 sq. m. (563 sq. ft. to 889 sq. ft.).

“Situated amidst the picturesque backdrop of the Sahayadri hills and sloping meadows, the residential towers at Godrej Greens are planned to maximize views and enhance community interaction. The development features the largest central greens of Undri and is designed to offer a wide range of green landscaped features,” it said.

“Undri’s recent inclusion into PMRDA limits promises rapid infrastructure development including large projects such as the 170 km long Pune Ring Road and Metro that would connect Undri to the other parts of Pune city and PCMC. Another major development is the announcement of a new Pune International Airport at Purandar, which is easily accessible from Undri.”

Pune is one of India’s top IT cities, and home to many software professionals.

Mr. Pirosha Godrej, Managing Director & CEO, Godrej Properties said, “We are thrilled with the customer response to Godrej Greens. We consider Pune a critical growth opportunity for our company and hope to have many more successful launches in the city.”

Godrej Properties is currently developing residential, commercial and township projects spread across approximately 11.98 million square meters (129.56 million square feet) in 12 cities.