Godrej Properties Limited, one of India’s leading real estate developers, announced today that it has entered into an agreement for the outright purchase of a land parcel in the fast-developing micromarket of Khalapur, Raigad, Maharashtra.
Spread across close to 89 acres, the proposed project is located near Imagicaa Theme Park and is estimated to have a development potential of approximately 1.9 million square feet of saleable area comprising primarily of residential plotted development.
Khalapur, approximately 70 km from Mumbai, is a scenic location with well-developed social and civic infrastructure consisting of multiple schools, health facilities, retail malls, and entertainment outlets. The subject land is in close proximity to the Mumbai-Pune Expressway and offers good connectivity to Mumbai, Navi Mumbai, and Pune. The proposed Navi Mumbai International Airport will further boost connectivity to Khalapur and surrounding areas.
Gaurav Pandey, MD and CEO, Godrej Properties, said, “Residential plotted development has gained significant traction in recent years, and Khalapur is a promising micromarket in which to expand our presence in this space. We will aim to build an outstanding residential community that creates long-term value for its residents.”
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