Following the discovery of some defects in the Godrej Summit project’s building quality, more than 100 homeowners in a residential development owned by Godrej Properties Ltd (GPL) in Gurugram selected a buyback offer from the establishment.
“We intend to have the repairs finished by year’s end. Thus far, we have bought back a little over 100 flats because roughly 10% of our clients have chosen to take advantage of the buyback option. Based on the present outlook, we anticipate seeing that increase to roughly 200 over the next months,” GPL Executive Chairperson Pirojsha Godrej stated during the Q3FY24 earnings call.
Eleven towers including 1,100 residential apartments make up the project. The business had stated in August 2023 that the repairs could cost up to Rs 155 crore. In addition, a buyback for anybody wishing to leave the initiative was announced.
