Godrej Properties purchases 89 acres of land in Khalapur, Maharashtra

Mumbai, January 31, 2023: Godrej Properties Ltd. (GPL), (BSE scrip id: GODREJPROP), one of India’s leading real estate developers, today announced that it has entered into an agreement for outright purchase of a land parcel in the fast-developing micro market of Khalapur - Raigad, Maharashtra.
 
Spread across ~ 89 acres, the proposed project is located near Imagicaa Theme Park and is estimated to have a development potential of approximately 1.9 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 and Khalapur is a promising micro market in which to expand our presence in this space. We will aim to build an outstanding residential community that creates long-term value for its residents.”
 
~ 70 kms away from Mumbai, Khalapur is a scenic location with well-developed social and civic infrastructure consisting of multiple schools, health facilities, retail malls, and entertainment outlets. The subject land is in close proximity to the Mumbai-Pune Expressway and offers good connectivity to Mumbai, Navi Mumbai, and Pune. The proposed Navi Mumbai International Airport will further boost connectivity to Khalapur and surrounding areas.