Godrej Properties secures 3 plots in Mumbai for Rs 3,500 cr housing project

Godrej Properties has emerged as the highest bidder for three adjoining plots with a revenue potential of Rs 3,500 crore in Kharghar, Mumbai metropolitan region (MMR), according to the company’s stock exchange filing following auction results announced by the City and Industrial Development Corporation of Maharashtra (CIDCO).

According to the company, the plots, measuring 6.54 acres, offer a development potential of about 2 million square feet (msf), comprising premium residential apartments of varied configurations.

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Gaurav Pandey, managing director and chief executive officer of 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.”