Track2Realty: Godrej Properties has through its wholly owned subsidiary, Godrej Redevelopers Mumbai Pvt. Ltd. (GRMPL), entered into a development agreement with the Sahakar Nagar Vibhag- II Federation, to undertake a residential redevelopment project, of 200 tenements, in Sahakar Nagar – II, Chembur, Mumbai.
GPL announced that GRMPL has entered into a Development Agreement (DA) with Sahakar Nagar Vibhag- II Federation represented by 6 co-operative societies. These 6 societies, representing 200 members in the Sahakar Nagar 2 layout in Chembur, which was developed by MHADA in 1954, have come together to redevelop their properties under Regulation 33(5) of the Development Control Regulation for Greater Mumbai, 1991.
The project, spread over 3.9 acres, will offer approximately 750,000 sq. ft. of free sale area and is proposed to be developed as a modern residential development comprising 2, 2.5, and 3 BHK apartments.
Sahakar Nagar is strategically located and is just a stone’s throw away from Tilak Nagar railway station. The project will have excellent connectivity to Bandra-Kurla Complex through the upcoming Santacruz-Chembur Link Road (SCLR).
Pirojsha Godrej, Managing Director & CEO, Godrej Properties said, “We are happy to announce another new redevelopment project in Chembur. The central location and upcoming infrastructure in the vicinity of this project make this one of our most exciting new projects. We will seek to ensure we create an outstanding development for all the existing tenants and new residents.”
It also has direct connectivity to the Eastern Express Highway. Chembur station, Kurla railway terminus, major schools, colleges and entertainment hubs are all located within 1 km radius of the project.
GPL in March 2012 signed a deal, in the same locality, to redevelop 18 residential buildings with 216 members in Sahakar Nagar I.
