homemarket Newsstocks NewsGodrej Properties buys 89 acres of land near Imagicaa theme park in Maharashtra

Godrej Properties buys 89 acres of land near Imagicaa theme park in Maharashtra

Godrej Properties buys 89 acres of land near Imagicaa theme park in Maharashtra
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By CNBCTV18.com Jan 31, 2023 10:08:41 AM IST (Published)

The land is in close proximity to the Mumbai-Pune Expressway and offers good connectivity to Mumbai, Navi Mumbai, and Pune.

Real estate developer Godrej Properties Ltd. (GPL) on Tuesday announced that it has acquired an 89-acre land parcel in Khalapur, in the Raigad district of Maharashtra, for a residential project.

The proposed project, located near Imagicaa Theme Park, is estimated to have a development potential of about 1.9 million square feet of saleable area consisting primarily of residential plots.


Khalapur, which is 70 km away from Mumbai, is a scenic location with well-developed social and civic infrastructure comprising multiple schools, health facilities, retail malls, and entertainment outlets.

The 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 would further boost connectivity to Khalapur and adjoining areas.

Earlier this month, Godrej Properties purchased a 60-acre land parcel in Chennai, in the Oragadam Junction area of the city, to develop 1.6 million square feet of saleable area. The proposed project comprised primarily residential plotted development.

In December 2022, the real estate player acquired nine acres of land in Gurugram, Haryana, for a premium residential project. It had also bought about 62 acres of land in Kurukshetra for the development of a residential project.

Shares of Godrej Properties are trading 0.56 percent lower at Rs 1,158.65.

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