Ganesh Housing Corporation (GHCL), a renowned real estate development company, has acquired a minority stake in its subsidiary, Gatil Properties. This acquisition, valued at approximately Rs 321 crores, has made Gatil Properties a wholly owned subsidiary of GHCL. The project entails the development of a future township in Godhavi, Ahmedabad, spread over 450 acres, with a potential development area of 15.3 million square feet and a saleable potential of over Rs 5,000 crore. The township will be introduced in five phases, with the first phase scheduled to start in the second half of FY24 and the subsequent phases targeted for completion by the second half of FY29.
The flagship company of the Ganesh Group, Ganesh Housing Corporation (GHCL) has recently purchased a minority investment in its subsidiary Gatil Properties from US-based Monsoon Capital for a future township in Godhavi, Ahmedabad. The entire 31% stake in Monsoon India Infrastructure Direct II was acquired by GHCL. The acquisition is valued at approximately Rs 321 crores.
Gatil Properties is currently a 100% owned subsidiary of GHCL as a result of this deal. The site which is spread out over about 450 acres has a potential development area of 15.3 million square feet and a saleable potential of more than Rs 5,000 crore. The business intends to build villas in the project.
The township will be introduced in five phases out of which the first one will start in the second half of FY24, with a plan to launch and complete all remaining phases by the second half of FY29. This project received funding from Monsoon Capital to the tune of Rs 110 crores between 2009-12 which was used to procure and develop the land needed for the proposed township.
Ganesh Housing Corporation is a renowned real estate development company known for its exceptional residential and commercial projects. With a strong presence in the Indian real estate market, Ganesh Housing Corporation has established a stellar reputation for delivering high-quality construction, innovative designs, and timely project completion. The company's commitment to customer satisfaction and attention to detail have earned them the trust of countless homebuyers and investors.
Over the years, Ganesh Housing Corporation has developed a diverse portfolio of properties, including luxurious apartments, gated communities, commercial complexes, and integrated townships. With a focus on sustainable development and modern amenities, their projects are designed to enhance the quality of life for residents and contribute to the overall growth of the communities they serve.
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