Godrej Properties Acquires 90 Acres in Maharashtra's Khalapur for Residential Development

 

Godrej Properties Ltd (GPL) announced on August 12 the acquisition of a 90-acre land parcel in Khalapur, Raigad, Maharashtra, strategically located near Karjat Khopoli Road. The acquired land offers a development potential of approximately 1.7 million square feet of saleable area, primarily focused on residential plotted development.

Gaurav Pandey, Managing Director and CEO of Godrej Properties, highlighted the growing demand for residential plotted developments and emphasized the promise of Khalapur as an emerging location. "Residential plotted development has gained significant traction in recent years. Khalapur is a promising upcoming location. Following the excellent response to our last development, Godrej Hillview Estate, we aim to expand our presence in the region. We will strive to build an outstanding residential community that creates long-term value for its residents", Pandey stated.

Khalapur is situated about 70 kilometres from Mumbai and is well-connected to major urban centres, including Mumbai, Navi Mumbai, and Pune, via the Mumbai Trans Harbour Link and the Mumbai-Pune Expressway. The upcoming Navi Mumbai International Airport is expected to further improve access to Khalapur and its surrounding areas, enhancing the appeal of this location for future residents.

In related news, on August 9, Godrej Properties confirmed its participation in an e-auction conducted by the Greater Noida Industrial Development Authority (GNIDA) for residential group housing plots. The company emerged as the highest bidder for two land parcels, with a total bid value of ?842 crore, according to the e-tendering portal of SBI.

Godrej Properties continues to strengthen its presence in key markets, including Delhi-NCR, Mumbai Metropolitan Region (MMR), Pune, and Bengaluru. In the previous financial year, the company achieved record sales bookings of over Rs 22,000 crore, making it the largest listed real estate firm in terms of sales bookings.