Godrej Properties acquires 58 acres of land in Nagpur

Godrej Properties Ltd. (GPL), (BSE scrip id: GODREJPROP), one of India's leading real estate developers, today announced that it has acquired 58 acres of land in Nagpur. The development on this land will comprise primarily of plotted residential units and will offer an estimated saleable area of 1.5 million sq. ft.

The project has good connectivity to Nagpur Airport and the Nagpur - Hyderabad highway with well-established social infrastructure in the vicinity. Nagpur has many prominent infrastructure projects like the Metro Rail project, IT and manufacturing facilities in MIHAN SEZ and Airport Cargo Hub, along with the upcoming Samruddhi Mahamarg which will further boost national connectivity and the related demand for quality residential units.

Mohit Malhotra, MD & CEO, Godrej Properties, said, "We are happy to add this new project in Nagpur to our portfolio. This fits with our strategy of strengthening our presence in key residential markets across the country. We will seek to ensure this project delivers an outstanding lifestyle to its residents."

Shares of Godrej Properties Limited was last trading in BSE at Rs. 1570.25 as compared to the previous close of Rs. 1583.50. The total number of shares traded during the day was 28095 in over 1979 trades.

The stock hit an intraday high of Rs. 1580.60 and intraday low of 1547.05. The net turnover during the day was Rs. 44058304.00.

Source : Equity Bulls

Keywords

GodrejProperties INE484J01027 RealEstate LandAcquisition Nagpur 58Acres ResidentialPlots