Godrej Properties buys land parcel in Mumbai for its luxury housing project

Real estate firm Godrej Properties on Monday said it has acquired 0.5 acres of land in Mumbai to develop a luxury housing project with an estimated sales value of Rs 1,200 crore.

Godrej Properties
Representative image
Press Trust of India New Delhi
1 min read Last Updated : Aug 01 2022 | 12:07 PM IST

Real estate firm Godrej Properties on Monday said it has acquired 0.5 acres of land in Mumbai to develop a luxury housing project with an estimated sales value of Rs 1,200 crore.

In a regulatory filing, the company informed that it has bought a land parcel to develop a luxury project near Carmichael Road in Mumbai.

The land parcel, spread across 0.5 acres, was purchased from the Karam Chand Thapar (KCT) group.

The new project will have an estimated booking value potential of approximately Rs 1,200 crore, the company said.

"The demand for luxury realty has been strong over the past few years and this location affords us the opportunity to create a landmark boutique luxury residential development," said Mohit Malhotra, MD & CEO, Godrej Properties.

Varun Thapar, Vice Chairman and Executive Director - KCT Group, said Indian City Properties Ltd, the real estate arm of the KCT Group, owned this prime land asset in South Mumbai for nearly seven decades.

Mumbai-based Godrej Properties is one of the leading real estate developers in the country. It is part of the business conglomerate Godrej Group.

Godrej Properties mainly focuses on Delhi-NCR, Mumbai Metropolitan Region, Pune and Bengaluru markets.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Subscribe to Business Standard digital and get complimentary access to The New York Times

Quarterly Starter

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

Save 46%

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Access to Exclusive Premium Stories Online

  • Over 30 behind the paywall stories daily, handpicked by our editors for subscribers

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

Topics :Godrej PropertiesMumbaiReal Estate

First Published: Aug 01 2022 | 12:07 PM IST

Next Story