Navi Mumbai: Godrej Properties Ltd (GPL), one of India’s leading real estate developers, announced on Wednesday that it has emerged as the highest bidder to develop a group housing project at a premium location in Sector 5-A, Kharghar according to e-auction portal of City and Industrial Development Corporation of Maharashtra (CIDCO).
The plots, measuring 6.54 acres, will offer a development potential of 2 million sq ft, comprising premium residential apartments of varied configurations, with an estimated combined revenue potential of Rs 3,500 crore.
Sector 5-A, Kharghar enjoys excellent connectivity with key transport hubs, including Kharghar and CBD-Belapur Railway Stations, metro connectivity as well as the Sion-Panvel Expressway. The area is in proximity to Kharghar residential node and boasts of a well-developed social infrastructure with healthcare facilities and educational institutions. This development will enjoy excellent views of the Kharghar hills.
Gaurav Pandey, MD & CEO, Godrej Properties, said, “Our entry into the Kharghar micro-market aligns well with our strategy of strengthening our portfolio across the key real estate markets in India. We will aim to build an outstanding residential community that creates long-term value for its residents.”
In its latest operational updates for the July-September quarter, Godrej Properties added eight new land parcels in the first six months of this fiscal with a total estimated saleable area of about 11 million square feet and total estimated booking value potential of around Rs 12,650 crore.
This included the addition of six new land parcels in the second quarter of this fiscal with an expected booking value of Rs 9,650 crore.
During the April-September period of this fiscal, Godrej Properties' sales booking value grew 89 per cent annually to over Rs 13,800 crore. This is the highest-ever booking value achieved by Godrej Properties during the first half of a fiscal year.
You may also like
Florida man arrested after dog found abandoned in flood during Hurricane Milton
Inside Shrinking star Jason Segel's life from 'existential crisis' to famous younger girlfriend
Union Minister Shivraj Singh Chouhan highlights Cabinet nod to MSP for rabi crops
Development Dialogue: NDA's top brass to discuss national growth in Chandigarh tomorrow
"Enhancing facilities top priority over opening new educational institutions": Himachal CM Sukhu
Researchers discover alternate method to study changes during DNA replication process
Peaky Blinders' Sam Claflin 'splits from model girlfriend and already back on dating apps'
'Necessary for entire country to... ': Congress on India-Canada diplomatic fallout
NITI Aayog to host 2nd International Methanol Seminar on Oct 17-18
Passion, money, stereotypes: UAE women leaders discuss their experiences
Antarctic's 'massive door' viral image sparks wild theories, but scientists have a simple explanation
Mum's tribute to 'happy and ambitious' British influencer who plunged from 630ft Spain bridge
US Navy jet with two onboard crashes near Mount Rainier, search operation under way
Ajman introduces government prepaid card for service payments
Morocco World Cup bid sees thousands of dogs slaughtered in horrifying clean-up
Former MLA Munna Shukla surrenders before court in Brij Bihari murder case
Cong faces internal rift over Rahul Mamkootathil's candidature for Palakkad bypoll
Cong can't demand K'taka CM's resignation as Gandhi family is involved in scams: Pralhad Joshi
Rakul Preet Suffers Deadlift Injury: Ways To Strengthen Your Back Muscles To Prevent Strain
Peter Kay returns to TV in exciting Christmas role in major BBC comedy