Godrej Properties acquires 90 acres of land in Khalapur, Maharashtra

Godrej Properties Ltd. (GPL), (BSE scrip id: GODREJPROP), one of India's leading real estate developers, today announced that it has acquired a ~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 square feet of saleable area comprising primarily of residential plotted development.

Gaurav Pandey, MD & CEO, Godrej Properties, said, "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. We will aim to build an outstanding residential community that creates long-term value for its residents."

Located about 70 kilometres from Mumbai, Khalapur is a scenic area featuring well-established social and civic infrastructure, including several schools, healthcare facilities, shopping malls, and entertainment venues. The land is in proximity to the Mumbai Trans Harbour Link and the Mumbai-Pune Expressway, providing excellent connectivity to Mumbai, Navi Mumbai, and Pune. The planned Navi Mumbai International Airport is expected to further enhance access to Khalapur and its neighbouring regions.

Shares of Godrej Properties Limited was last trading in BSE at Rs. 2870.50 as compared to the previous close of Rs. 2901.75. The total number of shares traded during the day was 12675 in over 1475 trades.

The stock hit an intraday high of Rs. 2920.50 and intraday low of 2857.35. The net turnover during the day was Rs. 36517041.00.

Source : Equity Bulls

Keywords

GodrejProperties INE484J01027 Realty Acquisition LandParcel Khalapur Raigad Maharashtra