Today, many schemes have been launched to provide housing to the increasing population, under which people are getting the opportunity to buy houses cheaply. But if the company which has prepared the project goes bankrupt, then what will be its effect on the people buying and booking houses. Let us know in detail in the news below-
If we look at the area of Mumbai in acres, it will be a little more than 1 lakh acres. But the habitable land here is only 34000 acres. Do you know that in this also 3400 acres i.e. 10 percent of the total habitable area is owned by only one family. This land is with Godrej family. Mumbai is the most expensive real estate area in the country.
Pirojsha Godrej, grandfather of Adi Godrej, chairman of Godrej Industries, had purchased this land. During the Second World War, he bought 3000 acres of land from the British government for just Rs 30 lakh. After this 400 acres more land was purchased. At present, about 1000 acres of this land can be developed. Their estimated value is around Rs 5 lakh crore.
Property across the country
Godrej Properties now has land not only in Mumbai but also in other metropolitan cities. These include Delhi-NCR, Hyderabad, Bengaluru and Chennai along with Mumbai. Godrej Properties builds residential buildings here. Apart from residential buildings, Godrej Properties also builds commercial properties.
New Shopping in Hyderabad
Godrej Properties Ltd has bought 12.5 acres of land in Hyderabad for Rs 350 crore for a residential project. The company expects revenue generation of Rs 3,500 crore from here. With this the company has entered the Hyderabad property market.
Godrej Properties informed the stock market that it has acquired 12.5 acres of land in Rajendra Nagar, Hyderabad, but did not disclose the deal value and the name of the seller. However, market sources said that the deal was done for around Rs 350 crore.
