On Monday, Godrej Properties Ltd said it had entered into a joint venture (JV) with TDI group to build a luxury housing project at Connaught Place in Central Delhi.

In a regulatory filing, Godrej Properties informed that the project would have a development potential of about 1.25 lakh square feet saleable area.

Godrej Properties said it has “entered into a joint venture with TDI group to develop an ultra-luxury residential project in Connaught Place (CP), one of the most premium locations within the central business district of New Delhi”.

Mohit Malhotra, Managing Director (MD) and Chief Executive Officer (CEO) of Godrej Properties, said, As we continue to strengthen our presence in Delhi, we are happy to add this project in one of downtown Delhi’s most desirable locations”.

This will be the company’s third project in Delhi, he added. Godrej Properties is developing a housing project at Okhla, while it will soon launch a luxury housing project at Ashok Vihar in the national capital.