Godrej Properties buys 90 acre land parcel in Maha's Raigad for Rs 150 cr
Godrej Properties has acquired a 90-acre land parcel at Khalapur in Raigad, Maharashtra for around Rs 150 crore with plans to develop and sell residential plots.
The land parcel is estimated to have a development potential of around 1.7 million square feet of saleable area consisting primarily of residential plotted development, the company said in a regulatory filing.
The company did not share details of investment for the said land acquisition.
However, sources said the land cost was around Rs 150 crore.
"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," Gaurav Pandey, MD & CEO, Godrej Properties, said.
Khalapur is located about 70 kilometres from Mumbai.
The land is in proximity to the Mumbai Trans Harbour Link and the Mumbai-Pune Expressway, providing excellent ...