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Godrej Acquires 53 Acres in Kolkata for Rs 500 Crore Residential Project
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siliconindia
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Wednesday, November 20, 2024
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Godrej Properties Ltd has acquired 53-acre land in Kolkata to construct a plotted development project of residential buildings which will have a revenue potential of approximately Rs 500 crore. Godrej Properties is one of India's leading real estate firms.
The company informed this in a regulatory filing on Wednesday that it has acquired about 53-acre land parcel in Joka, Kolkata.
"The proposed project is estimated to have development potential of 1.3 million square feet saleable area that will comprise mainly residential plotted development with an estimated revenue potential of about Rs 500 crore", Godrej Properties said.
Strategic location in the fast-developing micro-market of Joka, close to the main city and in proximity to Diamond Harbour, a well-known seaside weekend getaway.
Gaurav Pandey, MD & CEO, Godrej Properties, said, "This land acquisition fits our strategy of deepening our presence across India's leading cities. We will aim to build an outstanding plotted development project in Joka that creates long-term value for its residents".
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