Godrej Properties opens first overseas office in Dubai

With the opening of this new representative office, GPL will engage directly with the Indian diaspora located across the GCC market.

Dubai — Godrej Properties Limited, or GPL, the real estate development arm of the Godrej Group, has announced that it has opened its first international representative office in Dubai.

The representative office in Dubai is located at the Regus Nassima Tower on Sheikh Zayed Road, Dubai’s key business district.

Girish Shah, executive vice-president for marketing and sales, said that over the years, Godrej Properties has been constantly engaging with customers through various exhibitions and events in various international markets including Dubai, Singapore, Hong Kong, Australia, Africa, the UK and the US.

With the opening of this new representative office, GPL will engage directly with the Indian diaspora located across the GCC market, he said.

Also in the pipeline is the launch of more overseas office in other countries, he said.

“We are happy to have launched our first international representative office in Dubai. Godrej Properties has always believed in connecting with customers on a personal level. NRIs [non-resident Indians] living in Dubai are constantly looking for home buying options in India. With this new office, customers will now have easy access to a representative at Godrej Properties thus making the home buying process easier,” said Shah.

The long-awaited Real Estate Regulatory Bill, which aims to regulate contracts and transfer of property, both of which are on the concurrent list, is expected to give a big boost to the sector by ensuring transparency and investor protection, said Shah.

Under the law, which is expected to be passed soon, once a project is registered with the regulatory authority the promoter must upload its details on the authority’s website. It also lays down that 70 per cent of the amount collected from a project’s buyers must be put in a separate bank account and used only for that project.

Shah said India’s relaxed rules for foreign direct investment in construction is expected to make it easier for foreigners to invest in real estate, which is projected to grow on par with India’s gross domestic product growth of over five per cent.