NEW DELHI: Godrej Properties (GPL) has acquired three contiguous land parcels on lease from City and Industrial Development Corporation (CIDCO) in Kharghar, Navi Mumbai.
The transaction incurred a total stamp duty of Rs 35.82 crore. Each transaction registration required a registration fee of Rs. 30,000, according to the Inspector General of Registration (IGR) documents reviewed by Square Yards. All the transactions were registered in March 2025
The total land area is 26,478 sq meters (6.54 acre), with a total value of Rs. 716.58 crore. All the agreements have a total tenure of 60 years.
Anand Moorthy, co-founder and CBO, Capital Market & Services at Square Yards, said, “Our data indicates a 35% year-on-year increase in registered residential transactions in Q4 (October-December) 2024, with key nodes like Kharghar, Vashi, Belapur CBD, and Panvel leading the charge.”
The land has mixed-use zoning, including residential and commercial only, as per the transaction agreement.
The company recently acquired 10 acres of land in Yelahanka, Bengaluru. The project is estimated to have a developable potential of 1.5 million sq ft of saleable area with an estimated revenue potential of Rs 2,500 crore.
