Godrej Properties acquires 90 acres of land in Khalapur, Maharashtra
Mumbai real estate: The land in Maharashtra offers a development potential of approximately 1.7 million square feet of residential plotted development
Godrej Properties Ltd on August 12 announced that it has acquired an around 90-acre land parcel in Khalapur - Raigad, Maharashtra which is estimated to have a development potential of approximately 1.7 million square feet of saleable area comprising primarily of residential plotted development.
The land is located near Karjat Khopoli Road, the company said.
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“Residential plotted development has gained significant traction in recent years. Khalapur is a promising upcoming location. Hence following the excellent response to our last development, Godrej Hillview Estate, we aim to expand our presence in the region. We will aim to build an outstanding residential community that creates long-term value for its residents," said Gaurav Pandey, MD and CEO, Godrej Properties.
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The location
Located about 70 kilometres from Mumbai, Khalapur, the land is in proximity to the Mumbai Trans Harbour Link and the Mumbai-Pune Expressway, and is well connected to Mumbai, Navi Mumbai, and Pune. The planned Navi Mumbai International Airport is expected to further enhance access to Khalapur and its neighbouring regions, the statement said.
Godrej Properties Ltd (GPL) on August 9 confirmed that it has participated in an e-auction conducted by the Greater Noida Industrial Development Authority (GNIDA) for residential group housing plots, where GPL has emerged as the highest bidder for two land parcels with a total combined bid value of ₹842 crore, according to the e-tendering portal of SBI.
Godrej Properties has a major presence in Delhi-NCR (National Capital Region), Mumbai Metropolitan Region (MMR), Pune and Bengaluru markets. In the previous financial year, Godrej Properties emerged as the largest listed real estate firm in terms of sales bookings by selling properties worth over ₹22,000 crore.