Godrej Properties Limited (GPL) has successfully acquired 6.5 acres of land in Kharghar, Mumbai, after emerging as the highest bidder in an e-auction conducted by the City and Industrial Development Corporation of Maharashtra (CIDCO). This new acquisition has a potential revenue generation of approximately ₹3,500 crore.
Key Details:
- Location: Sector 5-A, Kharghar, Mumbai Metropolitan Region
- Development Potential: The project will span 2 million square feet, featuring premium residential apartments of various configurations.
- Revenue Potential: Estimated at around ₹3,500 crore, based on current business assumptions.
Connectivity & Infrastructure:
The location enjoys excellent connectivity to key transport hubs like the Kharghar & CBD Belapur Railway Stations, metro connectivity, and proximity to the Sion-Panvel Expressway. The site is situated close to a well-developed social infrastructure that includes healthcare facilities and educational institutions, offering scenic views of the Kharghar hills.
Strategic Expansion:
Gaurav Pandey, Managing Director and CEO of Godrej Properties, highlighted that this acquisition aligns with the company’s strategy to strengthen its presence across key real estate markets in India. The company aims to build a premium residential community that adds long-term value for residents.
This new project adds to Godrej Properties’ ongoing focus on sustainable and high-quality real estate developments across the country.
