Godrej Properties Acquires 6.54 Acres in Kharghar

28 Mar 2025 CW Team

Godrej Properties Ltd (GPL) has acquired three contiguous land parcels spanning 6.54 acres in Navi Mumbai's Kharghar on a 60-year lease for Rs 7.17 billion, according to property registration documents accessed by SquareYards. The company paid over Rs 350 million in stamp duty and a registration fee of Rs 90,000.

GPL emerged as the highest bidder for the group housing project in a CIDCO auction held in October 2024. The agreement for the land parcels was officially registered on March 19, 2025. The project is expected to yield approximately 2 million sq. ft. of premium residential development, with an estimated revenue potential of Rs 35 billion.

Gaurav Pandey, MD & CEO of Godrej Properties, stated in October 2024 that the entry into Kharghar aligns with GPL’s strategy to expand in key real estate markets, aiming to build a high-quality residential community.

Kharghar's Rising Real Estate Demand Navi Mumbai's real estate sector is witnessing a surge, driven by major infrastructure upgrades such as the operational Atal Setu and the upcoming Navi Mumbai International Airport. According to Anand Moorthy, Co-founder & CBO at Square Yards, Kharghar, Vashi, Belapur CBD, and Panvel are experiencing strong developer interest.

Square Yards data shows a 35% YoY increase in registered residential transactions in Q4 2024. In Kharghar alone, 4,112 residential sale transactions worth Rs 37.71 billion were recorded in 2024, with property prices averaging Rs 17,600 per sq. ft.

Godrej Properties has yet to respond to queries regarding the acquisition. If a response is received, this story will be updated.

Real Estate

31 Oct 2025

Birla Estates Tops Global GRESB 2025 Rankings

Birla Estates (BEPL), a wholly owned subsidiary of Aditya Birla Real Estate (formerly Century Textiles and Industries Limited), has been recognised as a Sector Leader in the 2025 GRESB Real Estate Assessment, securing top honours across multiple global and regional categories.Birla Estates’ Achievements in GRESB 2025:Global Sector Leader – ResidentialGlobal Sector Leader – Non-Listed ResidentialRegional Sector Leader – Asia – ResidentialRegional Sector Leader – Non-Listed – Asia – ResidentialThese distinctions reaffirm Birla Estates’ exceptional performance in Environmental, ..

Progota India Secures RDSO Clearance for Kavach 4.0

Concord Control Systems, one of India’s leading manufacturers of embedded electronic and critical system solutions, announced that its associate company, Progota India, has received Technical Prototype Clearance from the Research Designs and Standards Organisation (RDSO) for Kavach 4.0, the latest version of Indian Railways’ indigenous Automatic Train Protection (ATP) system.With this clearance, Progota has been formally approved to execute its ongoing trial order from South Central Railway, marking a key milestone in India’s railway modernization journey. The approval also establishes P..

MPS Interactive Systems Completes Full Acquisition of Liberate Group

MPS Interactive Systems (MPSi), a material subsidiary of MPS, has completed the acquisition of the remaining shareholding in the Liberate Group of Companies—comprising Liberate Learning, App-eLearn, and Liberate eLearning.With this transaction, MPSi now holds 100 per cent ownership of all entities within the Liberate Group, making them its wholly owned subsidiaries. The acquisition was executed in line with the valuation methodology defined in the original transaction documents.Commenting on the development, Rahul Arora, Chairman and CEO of MPS, said, “The corporate learning sector continu..