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Godrej Properties Obtains Property on Carmichael Road, South Mumbai, To Create High End Luxury Homes
- 2nd Aug 2022
Godrej Properties makes an acquisition of land on Carmichael Road in Mumbai with the intention of developing luxury apartments there.The new project is anticipated to have a potential booking value that is more than 1,200 crores of Indian rupees.
Godrej Properties has acquired property in the neighbourhood of Carmichael Road in Mumbai in order to build an upscale residential complex there. The development would be named Carmichael Road.
The property in question spans around a quarter of an acre and may be found in a location that is highly sought after. The Karam Chand Thapar organisation, often known as KCT, was the one responsible for selling the property.
The president and chief executive officer of Godrej Properties, Mohit Malhotra, was quoted as saying, "The demand for luxury real estate has been tremendous over the course of the previous few years, and this location affords us the possibility to develop a landmark boutique luxury residential complex."
According to Varun Thapar, VC and executive director of the KCT Group, Indian City Properties, the real estate division of the KCT Group, controlled this land asset in South Mumbai for almost seven decades. Indian City Properties is the real estate arm of the KCT Group.
There is a limited supply of luxury real estate in South Mumbai's most popular areas, such as Carmichael Road and Altamount Road. The high-end real estate on Carmichael Road might have prices that are more than INR 1,25,000 per square foot. Lodha Altamount, Arkade Rise, and Carmichael Residences, to name just a few of the high-end residential buildings that have recently been constructed in this region of South Mumbai, are just a few examples.