The Godrej Properties-DB Realty Joint Venture in Mumbai Has Been Terminated

According to Indian real estate industry insiders, Godrej Properties has decided to abandon its intentions to invest approximately INR 700 Cr in DB Realty in order to acquire a 10% interest and establish a collaborative platform in response to concerns made by minority owners and other stakeholders.

Recently, Godrej Properties had announced an investment of Rs 400 crore to acquire about 10% of DB Realty and another Rs 300 crore to establish a collaborative platform for slum remediation projects. 

According to reports, Godrej Properties Ltd Executive Chairman Pirojsha Godrej stated that the business has cancelled the investment contract with DB Realty in response to comments from various stakeholders, including minority investors.

Various factors, including the investment's structure and the slum redevelopment industry itself, contributed to the cancellation.