Godrej Properties to enter market

Our Corporate Bureau
05 April 2007

"We are planning to enter the capital market this year to fund our various projects," said Korde.

Godrej Properties has presence in Bangalore, Hyderabad, Mumbai, Pune and Kolkata and is actively looking for opportunities in Chennai, Goa, Nagpur, Nashik and the National Capital Region, he said.

There is a huge demand for real estate projects and, ''we have lots of projects planned'', he added.

About 85 per cent of the current demand for commercial sector is coming from IT companies, Korde said, adding that every one sq ft of IT commercial space resulted in demand for seven sq ft of residential space.

Korde said issues like interest rate hikes are only short-time irritants and would even out in the long run, adding, ''When you look globally, interest rate hikes affect only in the short run and not in the long run''.