NEW DELHI: Godrej Properties (GPL) has acquired about 90-acre land parcel in Khalapur – Raigad, Maharashtra.
The land is located near Karjat Khopoli Road and is estimated to have a development potential of approximately 1.7 million sq ft of saleable area comprising primarily of residential plotted development.
Gaurav Pandey, MD & CEO of the company said, “Residential plotted development has gained significant traction in recent years. Khalapur is a promising upcoming location.”
Recently, the company had participated in an e-auction conducted by the Greater Noida Industrial Development Authority (GNIDA) for residential group housing plots, where it had emerged as the highest bidder for two land parcels with a total combined bid value of Rs 842 crore, according to the e-tendering portal of SBI.
Spread over about 9.5 acres in Sector Sigma – III and approximately 8 acres in Sector 12, the land parcels together will offer a development potential of about 3.75 million sq ft and an estimated revenue potential of over Rs 5,000 crore comprising premium residential apartments of varied configurations.
