In an exciting development, Godrej Properties Ltd has successfully secured approximately 109 acres of prime land in the vibrant city of Nagpur, setting the stage for the launch of new residential plots.
In an official announcement via a regulatory filing, Godrej Properties revealed that this expansive land acquisition will primarily be dedicated to plotted residential units, offering a sprawling saleable area spanning an impressive 2.2 million square feet.
While the specifics of the transaction, including the deal value and the identity of the seller, remain undisclosed, the company’s Managing Director and CEO, Gaurav Pandey, expressed enthusiasm for this strategic move, emphasizing that it solidifies Godrej Properties’ footprint in Nagpur.
This acquisition comes as no surprise, given the strong resurgence in housing demand following the challenges posed by the Covid-19 pandemic. Godrej Properties has been relentless in its pursuit of land parcels, both independently and through collaborative ventures with landowners, as part of its ambitious business expansion strategy.
Godrej Properties, a subsidiary of the renowned business conglomerate Godrej Industries, stands tall as a leading player in India’s real estate sector. The company primarily directs its attention to key markets such as Delhi-NCR, Mumbai Metropolitan Region, Bengaluru, and Pune for the development of cutting-edge residential projects.
As a testament to its optimism and vigor, the company anticipates a remarkable 14 percent growth in sale bookings for the current fiscal year, projecting a record-breaking figure of Rs 14,000 crore.
About Godrej Properties:
Godrej Properties Limited, headquartered in Mumbai, India, is a real estate firm that operates as a subsidiary of Godrej Industries Ltd. Founded in 1990 under the guidance of Adi Godrej, the company is presently engaged in the development of projects encompassing an impressive total area exceeding 89.7 million square feet.
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