Mumbai, August 12, 2024 — Betting big on plotted development, Godrej Properties Ltd. (GPL) today announced another big-ticket land acquisition by purchasing 90 acres of land in Khalapur, Raigad, Maharashtra.
The land, near Karjat Khopoli Road, has a development potential of around 17 lakh square feet. The project will primarily feature residential plots, catering to the rising demand for customizable home options.
The company in its press release did not mention the deal value and the name of the seller.
Khalapur, about 70 kilometers from Mumbai, is gaining popularity due to its scenic surroundings and solid infrastructure, including schools, healthcare facilities, and shopping centers. The area is well-connected via the Mumbai-Pune Expressway and the soon-to-be-completed Navi Mumbai International Airport, making it an attractive location for new developments.
Gaurav Pandey, MD & CEO of Godrej Properties, noted, “Residential plotted developments are in high demand. Khalapur is an emerging area, and after the success of Godrej Hillview Estate, we’re excited to further our presence here. We aim to create a top-notch residential community that offers long-term value.”
This acquisition reflects Godrej Properties’ strategy to tap into the growing interest in suburban living. The company’s earlier project, Godrej Hillview Estate, saw strong demand, reinforcing confidence in this market.
The development is expected to boost the local economy by creating jobs and attracting investments. With improved connectivity and infrastructure, Khalapur is poised to become a key residential hub in the region.
Godrej Properties continues to identify and invest in areas with high growth potential, focusing on building sustainable and valuable communities.
