Godrej Properties buys 90 acres land for residential development in Maharashtra's Khalapur

In an media announcement, Godrej properties has declared that, it has purchased an around 90-acre land parcel in Khalapur - Raigad, Maharashtra which is estimated to have a development potential of approximately 1.7 million square feet of saleable area comprising primarily of residential plotted development. The company also mentioned that, the land is located near Karjat Khopoli Road.

The MD and CEO, Godrej Properties, Gaurav Pandey mentioned, “Residential plotted development has gained significant traction in recent years. Khalapur is a promising upcoming location. Hence following the excellent response to our last development, Godrej Hillview Estate, we aim to expand our presence in the region. We will aim to build an outstanding residential community that creates long-term value for its residents."  

Precisely, the land is located nearly 70km away from Mumbai Khalapur and situated in the close proximity to Mumbai Trans Harbour Link and the Mumbai-Pune Expressway. According to the company statement, the Navi Mumbai airport is expected to further enhance access to Khalapur and its neighbouring regions.

Godrej Properties has a significant presence in the Delhi-NCR (National Capital Region), Mumbai Metropolitan Region (MMR), Pune, and Bengaluru markets. In the previous financial year, the company became the largest listed real estate firm by sales bookings, with property sales exceeding Rs.22,000 crore.

The plot is situated about 70 kilometres from Mumbai and the proposed Navi Mumbai International Airport is expected to enhance access to Khalapur and its neighbouring regions.

Lately, Godrej Properties reported a more than four-fold jump in consolidated net profit to Rs.520.05 crore in the first quarter of this fiscal year. The total income grew to Rs.1,699.48 crore during April-June 2024-25 from Rs.1,265.98 crore in the corresponding period of the previous year.