Godrej Garden City, Ahmedabad

A 10-year township project of >40msf development (over ~300 acres) off SG Highway, 20 minutes from the heart of the city. While it is largely a residential land development, a minimum of 70% will be residential (given the ambiguity about township rules in Gujarat). It is a JV with a local builder, which is to acquire all the land.

Management mentioned that the bulk of the 300 acres has been acquired. The project will be developed in phases: Ph-1 is to be launched in Mar10 – 1.0msf of residential at Rs2300-2400 /sf and 1,000sf unit size. Construction costs- contract with L&T at Rs 995/sf. Focus for next 2-3 years will only be on residential development.