The company, which is developing Godrej Frontier on Sector-80, had sold over 200 apartments in first phase within two days of its launch in October this year. In the second phase, it will develop 100 flats.
"We are confident that phase-II will do as well as the earlier phase. Godrej Frontier is our first residential project in the NCR region and we are happy with the response it has been getting," Godrej Properties Managing Director Milind Korde said in a statement.
Located in Sector 80 of Gurgaon, this is the Godrej Properties' first residential project in northern India. The company would develop around 1.05 million square feet on 9 acres of land.
Godrej Properties is developing the project with Frontier Home Developers under a joint venture development model.
Fixed maturity plans (FMPs) are back in vogue. Since September, more than 100 such schemes have been launched which have managed to collect Rs 24,518 crore, according to Value Research.
An environment of rising interest rates has helped increase their popularity, especially among high net worth individuals.
Also, the fact that interest on fixed deposits (FDs) is taxable makes investing in an FMP a better bet than investing in FDs. Given these reasons even smaller retail investors should be looking at FMPs
PGDM 1st Sem 2010