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Godrej Properties Ltd (GPL), the real estate development arm of the Godrej Group, has, through its wholly owned subsidiary Godrej Projects Development Pvt. Ltd (GPDPL), entered into a Development Management Agreement with RR Builders to redevelop a MHADA property in Byculla, Mumbai. The entire cost for design, construction and development of the project will be borne by RR Builders in its role as owner-developer, while the cost for sales and marketing will be borne by Godrej Properties in its role as development manager. GPDPL shall be entitled to a development management fee over the duration of the project. The project, spread over 2.5 acres, is proposed to be developed as a modern group housing residential development comprising 2, 3 and 4 BHK apartments.
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