Godrej Properties Achieves Soaring Success with Upcoming Kolkata Luxury Residential Project
In a significant development, Godrej Properties soars in its share price during the early trade on June 15. The renowned real estate developer announced its plans to acquire a prime land parcel in Kolkata for an exclusive luxury residential project.
After securing the highest bid in an e-auction, Godrej Properties will procure a sprawling 7.44-acre land at New Alipore from West Bengal Housing Infrastructure Development Corporation Ltd. The company has ambitious plans to transform this land into a captivating group housing project, showcasing the epitome of luxury.
Anticipated to encompass an impressive 9.8 lakh square feet of developable area, the project holds immense revenue potential, estimated to reach a staggering Rs 1,200 crore. Gaurav Pandey, the Managing Director and CEO of Godrej Properties expressed his delight regarding the acquisition, stating, “We are thrilled to secure this land parcel located in one of Kolkata’s most sought-after locations. The demand for luxury real estate has been consistently strong in recent years. This venture will mark our second luxury development in the city, as we strive to create an exceptional residential community that delivers enduring value to its residents.”
As of 11:59 am, on the Bombay Stock Exchange (BSE), Godrej Properties’ stock was trading at Rs 1,576.90, displaying a substantial increase of Rs 70.35, equivalent to an impressive 4.67 percent surge.
This latest announcement by Godrej Properties has further solidified its position as a leading player in the real estate market, while simultaneously igniting excitement among potential homebuyers and investors alike. The forthcoming luxury residential project in Kolkata promises to be an extraordinary offering, aligning with the evolving preferences and aspirations of discerning individuals seeking a lavish lifestyle.
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