Godrej Properties (GPL), one of India's leading real estate developers, today announced the expansion of its residential portfolio in NCR, with the addition of a new luxury residential project in Noida, in the centrally located Sector 43.

This project will offer approximately 0.2 million square meters (2.2 million sq. ft.) of saleable area and will be developed as a premium group housing development. This project is located in the city-center Sector 43 in close proximity to the -Noida Golf Course. The location boasts of excellent connectivity to Delhi and other landmark destinations within Noida and will offer residents ready physical and social infrastructure.

GPL will develop this project in partnership with the Shipra Group, a prominent real estate owner and developer in north India with interests in both residential and commercial projects.

This is GPL's 4th project in Noida and 13th project within the National Capital Region (NCR). Within nine years of entering the NCR market, Godrej Properties has established itself as a market leader and is looking to consolidate this position through the addition of marquee developments in outstanding locations.

Pirojsha Godrej, Executive Chairman, Godrej Properties said, "We are happy to add this new project in an outstanding location in Noida. This strengthens our development portfolio in NCR and fits well with our strategy of deepening our presence across India's leading cities. We will seek to create a development that delivers a great experience for its residents.''

Shares of the company declined Rs 6.45, or 1.12%, to trade at Rs 568.05. The total volume of shares traded was 4,594 at the BSE (9.31 a.m., Monday).