Godrej Properties signs JDA for 18-acre Thane project with ₹7,500 crore revenue potential

Mumbai real estate: Godrej Properties signs JDA for 18-acre Thane land with ₹7,500 crore revenue potential

Mumbai-based listed real estate developer Godrej Properties on February 23 announced that it has entered into a joint development agreement to develop an 18-acre land parcel in an established micro-market of Thane with an estimated revenue potential of around ₹7,500 crore.

Mumbai-based, listed real estate developer, Godrej Properties, has entered into a joint development agreement to develop an 18-acre land parcel in Thane, Mumbai. (Picture for representational purposes only) (Pexels )

According to the company, the land parcel will have excellent connectivity to both existing and upcoming infrastructure, including the Thane-Wadala Metro and the Thane–Borivali twin-tube tunnel.

"Key regional connectivity catalysts such as the Thane Coastal Road, the Mumbai–Ahmedabad Bullet Train (with a dedicated Thane station), and multiple proposed metro corridors are expected to significantly reduce travel times, benefiting surrounding catchments, enhancing the attractiveness of this micro-market, and improving access to major residential, commercial, and employment hubs across the Mumbai Metropolitan Region," the company said in a statement.

“Strategic expansions in high-potential micromarkets are central to our growth strategy and our focus on creating enduring value for homebuyers. Thane has evolved into one of MMR's most attractive locations offering a strong mix of public spaces and lifestyle amenities," said Gaurav Pandey, MD and CEO, Godrej Properties.

"This development is our fourth in Thane and the large format of the land will allow for a well-planned integrated residential development. As we expand our footprint across key growth corridors, our priority remains to build communities that respond to evolving customer needs while contributing meaningfully to the cities they are part of," Pandey said.

The company said Thane offers a compelling combination of liveability and long-term growth potential supported by established residential developments and mature social infrastructure like schools, hospitals, malls, and recreational spaces.