Godrej Properties Ltd. (GPL), one of India’s leading real estate developers, on Friday announced that it has acquired approximately 109 acres land parcel in Nagpur, the company announced through an exchange filing.
The development on this land will comprise primarily plotted residential units and will offer an estimated saleable area of 2.2 million square feet.
The land parcel is strategically located near Samrudhhi Mahamarg, (the expressway connecting the cities of Mumbai & Nagpur) and MIHAN SEZ and offers good connectivity to the Mumbai - Kolkata highway and Dr. Babasaheb Ambedkar International Airport, Nagpur.
The location offers a well-developed social and municipal infrastructure, that includes hospitals, schools, retail, and entertainment venues.
Gaurav Pandey, MD & CEO, Godrej Properties, said, “We are happy to add this new project in Nagpur to our portfolio. This further enhances our presence in Nagpur and fits within our strategy of strengthening our presence across key micro-markets in India. We will aim to build an outstanding plotted development project in Nagpur that creates long-term value for its residents.”
Godrej Properties Ltd. shares
The shares of Godrej Properties Ltd. on Thurday at 3:30 pm closed at Rs 1,542, down by 2.43 percent.
