Goel Ganga Group To Deliver Ten Thousand Flats Within Next Three Years

After delivering more than 11,000 residential flats and a number of commercial establishments in Pune, Goel Ganga group is on a major expansion mode.
The group is all set to deliver 10,000 flats within next three years in prominent cities like Bangalore and Mumbai along with Pune at an estimated investment of Rs 5,000 crore.
The group has also entered hospitality sector with three hotels coming up in Pune and Bangalore.
Goel Ganga Managing Director Atul Goel, while addressing a press conference on Friday said, “Over next three years, we will deliver 5 million square foot of residential and commercial space in Bangalore, Mumbai, Nagpur and Pune together. We have recently completed 25 years in real estate sector and now, we have major expansion plans in hospitality business as well.”
The group has announced three residential projects in Pune namely Ganga Bhagyoday, Greater Ganga Panama and Ganga Skies, which all will deliver more than 600 flats each along with commercial complexes and a 6-screen cinema multiplex.
The group’s ambitious project in Bangalore will deliver 40 super luxurious villas worth Rs 5 crore each.
“We are setting up Eastern Randezvous hotel in Pune while The Lemon Tree hotel is already operational in Bangalore. Construction of a 10 lakh square foot shopping mall in Nagpur too is going on,” he added.
Goel stated that the group plans to invest Rs 5,000 crore over next three to four years in its various projects.

2 Comments

  1. Posted August 29, 2008 at 12:47 am | Permalink

    Property companies are rushing projects or cutting down on project completion time, by nearly 20 per cent in an attempt to overcome the liquidity crunch. Companies that took 3 years (36 months) on housing projects are now completing them in around 30 months by boosting efficiencies and using modern technology. One of the most significant reasons for the faster turnaround of projects is the decline in property sales by over 30 per cent in the last six months in Mumbai, national capital region (NCR) and other regions, which were the main revenue streams for developers. To add to their woes, the prices of cement, steel and labour, which account for more than half of the input costs, have risen 50 per cent over the last one year, putting pressure on developers’ margins. Construction costs, which vary from city to city, are growing 20-25 per cent every year, said industry experts.For more view- realtydigest.blogspot.com

  2. Real Estate Pune
    Posted September 1, 2008 at 1:48 am | Permalink

    its good to know about more flats available in Pune… but i hope they are cheaper and can be afforded by the students and bachelors .. who are the best clientele currently … especially after most people in pune refuse to rent out their places to them

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