Godrej Properties Acquired Land from CIDCO in Navi Mumbai
Real Estate

Godrej Properties Acquired Land from CIDCO in Navi Mumbai

Godrej Properties Limited has acquired three contiguous land parcels on lease from City and Industrial Development Corporation (CIDCO) in Navi Mumbai’s Kharghar. According to property registration documents reviewed by Square Yards on the website of the Inspector General of Registration (IGR) https://igrmaharashtra.gov.in, the total land area is 26,478 sq m (~2.64 hectare/ ~6.54 acre), with a total value of Rs 7.16 billion. All the transactions were registered in March 2025

Anand Moorthy, Co-founder and CBO, Capital Market & Services at Square Yards, said, “Navi Mumbai is currently witnessing a significant surge in real estate activity, largely attributed to extensive infrastructure upgrades in the region. The operational status of the Atal Setu and the impending completion of the Navi Mumbai International Airport (NMIA) are pivotal factors driving this increased demand for residential and commercial properties. Our data indicates a 35% YoY increase in registered residential transactions in Q4 (October-December) 2024, with key nodes like Kharghar, Vashi, Belapur CBD, and Panvel leading the charge. Developers are actively expanding their footprint, launching large-scale projects, and recent land transactions underscore their confidence in the region’s growth potential. The combination of connectivity augmentation and upcoming commercial developments is anticipated to create a dynamic environment conducive to real estate growth across various asset classes.”

Kharghar is a well-planned residential locality in Navi Mumbai, developed by CIDCO. The area offers good connectivity via the Mumbai-Pune Expressway, Sion-Panvel Highway, and the upcoming Navi Mumbai Metro, enhancing accessibility to key business hubs. It also has a strong social infrastructure, featuring established schools, hospitals, and retail centers. The proposed International Corporate Park (ICP) by CIDCO in Kharghar, aims to become a significant business hub featuring modern office spaces and amenities. This development is expected to enhance Kharghar's appeal, stimulating economic activity.

According to IGR property registration documents reviewed by Square Yards, Godrej Properties Limited leased three contiguous land parcels spanning a total of 26,478 square meters (~2.64 hectares/ ~6.54 acres) from CIDCO. The transaction incurred a total stamp duty of Rs. 35.82 crore. Each transaction registration required a registration fee of Rs. 30,000. All the agreements have a total tenure of 60 years. The land has mixed-use zoning, including residential and commercial only, as per the transaction agreement.

According to Square Yards' Data Intelligence, 4,112 residential sale transactions amounting to a gross transaction value of Rs 37.71 billion were registered with IGR in Kharghar, between January 2024 and December 2024. The average property price in the locality stood at Rs 17,600 per sq. ft as of December 2024. Godrej Properties Limited (GPL) is one of India's leading real estate developers and a subsidiary of the Godrej Group, a conglomerate with a legacy of over 125 years. Headquartered in Mumbai, Godrej Properties operates in 12 cities across India. In 2010, Godrej Properties became a publicly listed company following a successful IPO, raising $100 million. The City and Industrial Development Corporation of Maharashtra (CIDCO) is a city planning agency and government authority under the Government of Maharashtra. Established in 1970, CIDCO plays a crucial role in urban infrastructure development, city planning, and affordable housing projects in the state.

Godrej Properties Limited has acquired three contiguous land parcels on lease from City and Industrial Development Corporation (CIDCO) in Navi Mumbai’s Kharghar. According to property registration documents reviewed by Square Yards on the website of the Inspector General of Registration (IGR) https://igrmaharashtra.gov.in, the total land area is 26,478 sq m (~2.64 hectare/ ~6.54 acre), with a total value of Rs 7.16 billion. All the transactions were registered in March 2025 Anand Moorthy, Co-founder and CBO, Capital Market & Services at Square Yards, said, “Navi Mumbai is currently witnessing a significant surge in real estate activity, largely attributed to extensive infrastructure upgrades in the region. The operational status of the Atal Setu and the impending completion of the Navi Mumbai International Airport (NMIA) are pivotal factors driving this increased demand for residential and commercial properties. Our data indicates a 35% YoY increase in registered residential transactions in Q4 (October-December) 2024, with key nodes like Kharghar, Vashi, Belapur CBD, and Panvel leading the charge. Developers are actively expanding their footprint, launching large-scale projects, and recent land transactions underscore their confidence in the region’s growth potential. The combination of connectivity augmentation and upcoming commercial developments is anticipated to create a dynamic environment conducive to real estate growth across various asset classes.” Kharghar is a well-planned residential locality in Navi Mumbai, developed by CIDCO. The area offers good connectivity via the Mumbai-Pune Expressway, Sion-Panvel Highway, and the upcoming Navi Mumbai Metro, enhancing accessibility to key business hubs. It also has a strong social infrastructure, featuring established schools, hospitals, and retail centers. The proposed International Corporate Park (ICP) by CIDCO in Kharghar, aims to become a significant business hub featuring modern office spaces and amenities. This development is expected to enhance Kharghar's appeal, stimulating economic activity. According to IGR property registration documents reviewed by Square Yards, Godrej Properties Limited leased three contiguous land parcels spanning a total of 26,478 square meters (~2.64 hectares/ ~6.54 acres) from CIDCO. The transaction incurred a total stamp duty of Rs. 35.82 crore. Each transaction registration required a registration fee of Rs. 30,000. All the agreements have a total tenure of 60 years. The land has mixed-use zoning, including residential and commercial only, as per the transaction agreement. According to Square Yards' Data Intelligence, 4,112 residential sale transactions amounting to a gross transaction value of Rs 37.71 billion were registered with IGR in Kharghar, between January 2024 and December 2024. The average property price in the locality stood at Rs 17,600 per sq. ft as of December 2024. Godrej Properties Limited (GPL) is one of India's leading real estate developers and a subsidiary of the Godrej Group, a conglomerate with a legacy of over 125 years. Headquartered in Mumbai, Godrej Properties operates in 12 cities across India. In 2010, Godrej Properties became a publicly listed company following a successful IPO, raising $100 million. The City and Industrial Development Corporation of Maharashtra (CIDCO) is a city planning agency and government authority under the Government of Maharashtra. Established in 1970, CIDCO plays a crucial role in urban infrastructure development, city planning, and affordable housing projects in the state.

Next Story
Real Estate

Indian real estate attracts USD 1.4 bn institutional investments in Q1 2026: Vestian

Institutional investments in India’s real estate sector touched USD 1.4 billion in Q1 2026, marking the highest first-quarter inflow since 2022, according to Vestian. While investments fell 62 per cent quarter-on-quarter due to an exceptionally high base in the previous quarter, they rose 74 per cent compared to the same period last year, reflecting sustained investor confidence despite rising geopolitical and macroeconomic challenges.Commercial real estate remained the key driver of investment activity during the quarter, accounting for 80 per cent of total inflows, sharply higher than 38 p..

Next Story
Infrastructure Transport

VECV crosses 1 lakh annual vehicle sales milestone in FY26

VE Commercial Vehicles (VECV), a joint venture between Volvo Group and Eicher Motors, has surpassed the 1 lakh annual sales mark in FY 2025–26, recording its highest-ever commercial vehicle sales performance. The company said it sold more than 100,000 vehicles during the year, marking a major milestone aligned with the original vision of the Volvo–Eicher joint venture.The strong performance was supported by demand across categories. Light and Medium Duty (LMD) trucks contributed 47,789 units, accounting for 46.1 per cent of total sales. Heavy Duty (HD) trucks recorded 26,867 units (25.9 pe..

Next Story
Technology

Rodic Digital & Advisory partners SatSure to deploy EO intelligence in public sector

Rodic Digital & Advisory (RDA), the strategic advisory and digital transformation arm of Rodic Consultants, has signed a strategic cooperation Memorandum of Understanding (MoU) with SatSure to jointly pursue opportunities in India’s public sector. The collaboration aims to integrate high-resolution Earth Observation (EO) data and geospatial AI into government workflows to strengthen monitoring, compliance, and operational decision-making across key sectors.The partnership combines SatSure’s Earth intelligence capabilities with RDA’s expertise in government digital transformation and ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement