In order to expand its arm in Mumbai, leading Real estate developer Godrej Properties has recently acquired a 4-acre plot in Thane’s Ghodbunder Road. The group will develop a residential project on the land parcel.
The company has released a statement after the deal which says that the pact is an outright purchase of land along with Godrej Fund Management. However, the group has not disclosed the seller and consideration paid for the plot.
Giving more details on the deal, Pirojsha Godrej, Executive Chairman, Godrej Properties said, “We are happy to add this new project in Thane, which strengthens our development portfolio in Mumbai and fits with our strategy of deepening our presence in key markets across India’s leading cities.”
He further said that the proposed residential project will offer around 0.7 million sq ft saleable area comprising mainly of modern residential apartments of various configurations.
Recently, Godrej Properties has joined hands with Shipra Group to develop a luxury housing project in Noida. Located in the heart of the city, sector-43, the residential project will offer premium homes to the prospective homebuyers.
The project was launched in order to strengthen their development portfolio in NCR. This was Godrej Properties’ fourth project in Noida and 13th project in the National Capital Region (NCR). With this project, the company has recognized itself as a prominent player in Delhi-NCR within nine years of entering the NCR market.
Godrej Properties has today established itself as a market leader and is looking to consolidate this position through the addition of marquee developments in outstanding locations.