Godrej Properties Expands with Landmark 53-acre Land Acquisition in Kolkata

Godrej Properties Ltd has acquired a 53-acre land parcel in Joka, Kolkata, aiming to develop a residential plotted project with a revenue potential of Rs 500 crore. The strategic location promises significant growth, highlighting the company's strategy to expand its footprint across India's major cities.

Godrej Properties Ltd has announced a significant strategic move with the acquisition of a 53-acre land parcel in Joka, Kolkata, earmarked for a new residential plotted development. The company projects this development to have a revenue potential of roughly Rs 500 crore, underscoring their growing influence in real estate.

This new project is anticipated to provide approximately 1.3 million square feet of saleable area, placing significant emphasis on residential plots. The land's location in Joka, a rapidly developing micro-market near Kolkata, offers access to the city and the popular seaside destination of Diamond Harbour.

Gaurav Pandey, Managing Director and CEO of Godrej Properties, states that this acquisition is part of their strategy to expand in major Indian cities. The company is committed to creating a development that delivers long-term value to residents in Joka and reinforces their leadership in the real estate sector.

(With inputs from agencies.)