+
Godrej Properties set to buy 50-acre parcel at Palghar
Real Estate

Godrej Properties set to buy 50-acre parcel at Palghar

Godrej Properties Ltd has entered into an agreement for outright purchase of a 50-acre land parcel in Manor, Palghar. The proposed project on the land will offer a booking value potential of approximately Rs 5 billion, the company said in a media release.

The company’s managing director and chief executive Mohit Malhotra said, “The post-Covid demand for premium second homes has seen an uptick. This project will address that consumer segment, and complements our strategy of deepening GPL's presence across residential micro markets.”

It is estimated to have a developable potential of approximately 1.2 million sq ft of saleable area, comprising primarily of residential plotted development.

The company recently acquired approximately 7 acres of land in the vicinity of Indiranagar, Bengaluru. This project is estimated to have a developable potential of approximately 0.6 million sq ft of saleable area. It has an estimated booking value potential of approximately Rs 7.50 billion.

Godrej Properties had also acquired 0.5 acres land parcel from the Karam Chand Thapar (KCT) Group to develop a luxury project near the upmarket Carmichael Road in Mumbai. This project has an estimated booking value potential of approximately Rs 12 billion.

See also:
With 340,000 unsold units in Mumbai, developers are under pressure
Trident Realty acquires 200-acre land in Panchkula


Godrej Properties Ltd has entered into an agreement for outright purchase of a 50-acre land parcel in Manor, Palghar. The proposed project on the land will offer a booking value potential of approximately Rs 5 billion, the company said in a media release. The company’s managing director and chief executive Mohit Malhotra said, “The post-Covid demand for premium second homes has seen an uptick. This project will address that consumer segment, and complements our strategy of deepening GPL's presence across residential micro markets.” It is estimated to have a developable potential of approximately 1.2 million sq ft of saleable area, comprising primarily of residential plotted development. The company recently acquired approximately 7 acres of land in the vicinity of Indiranagar, Bengaluru. This project is estimated to have a developable potential of approximately 0.6 million sq ft of saleable area. It has an estimated booking value potential of approximately Rs 7.50 billion. Godrej Properties had also acquired 0.5 acres land parcel from the Karam Chand Thapar (KCT) Group to develop a luxury project near the upmarket Carmichael Road in Mumbai. This project has an estimated booking value potential of approximately Rs 12 billion. See also: With 340,000 unsold units in Mumbai, developers are under pressureTrident Realty acquires 200-acre land in Panchkula

Next Story
Real Estate

MoHUA Sanctions 1.47 Lakh Additional Houses Under PMAY-U 2.0

In a major push towards the Government’s Housing for All mission, the Ministry of Housing and Urban Affairs (MoHUA) has approved 1,46,582 additional pucca houses under Pradhan Mantri Awas Yojana – Urban 2.0 (PMAY-U 2.0) for 14 States/UTs, bringing total sanctions under the revamped scheme to 8.56 lakh.The decision came during the fourth meeting of the Central Sanctioning and Monitoring Committee (CSMC), chaired by Srinivas Katikithala, Secretary, MoHUA, at the Ministry’s Kasturba Gandhi Marg office. Senior officials, State Principal Secretaries, and PMAY-U Mission Directors participated ..

Next Story
Real Estate

Piyush Goyal Inaugurates Expanded ISA Building at Intellectual Property Office

Union Minister of Commerce and Industry, Piyush Goyal, today inaugurated the newly expanded International Searching Authority (ISA) building at the Intellectual Property Office (IPO) in Dwarka, New Delhi, marking a major step forward in India’s intellectual property ecosystem.Addressing the gathering, Goyal highlighted that innovation has been central to India’s heritage for centuries, citing the engineering brilliance of the Konark Temple as a historic example. He emphasised that innovation is not just intellectual property but a symbol of sovereignty, and a key driver in India’s journe..

Next Story
Real Estate

SIEGER Boosts Automation in Mumbai Realty

SIEGER, a leading automation solutions provider, is expanding its advanced manufacturing capabilities to meet the surging demand for precision, high-speed automation in Mumbai’s rapidly growing real estate sector.Operating from a 21,000 m² advanced production hub in Coimbatore—part of a 40,000 m² integrated campus—SIEGER offers complete solutions from design and prototyping to manufacturing and deployment. The fully digitalised facility features CNC machining, QR-coded component tracking, conveyorized powder coating, and a Government of India–certified R&D centre, ensuring unmatc..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?