Godrej Properties Secures 6.54 Acres in Kharghar to Build a Premium Residential Community

In an exciting development for Navi Mumbai's real estate landscape Godrej Properties Ltd (GPL), one of India's leading developers, has announced a major win. On Wednesday, the company revealed that it had emerged as the highest bidder to develop a prestigious housing project in the highly sought-after Sector 5-A, Kharghar. The bid was secured through the City and Industrial Development Corporation of Maharashtra (CIDCO) e-auction portal, marking a significant milestone for Godrej Properties.

A Premium Development in the Heart of Kharghar

The newly acquired plots span 6.54 acres and present a prime opportunity for Godrej Properties to transform the land into a premium residential community. The site will allow for a development potential of 2 million sq ft, which will include a range of premium residential apartments designed to cater to different lifestyle needs and preferences. With an estimated combined revenue potential of ₹3,500 crore, this project is poised to become one of the most coveted residential addresses in the area.

Strategic Location with Superior Connectivity

One of the key highlights of this development is its location. Sector 5-A, Kharghar offers excellent connectivity to critical transport hubs such as the Kharghar and CBD-Belapur Railway Stations, as well as metro connectivity. The Sion-Panvel Expressway further enhances access to key parts of Mumbai, making it an ideal spot for residents seeking convenience and accessibility. Additionally, this premium development will be surrounded by a well-established social infrastructure, including healthcare facilities and educational institutions.

Beyond the practicalities, future residents will enjoy breathtaking views of the Kharghar hills, making this project a perfect blend of modern living with natural beauty.

Godrej's Vision for Kharghar

Speaking about this exciting new project, Gaurav Pandey, MD & CEO of Godrej Properties, shared, “Our entry into the Kharghar micro-market aligns with our strategic goal of strengthening our portfolio in key real estate markets across India. We aim to create an outstanding residential community that delivers long-term value to its residents.”

Building Momentum: Godrej's Expanding Portfolio

This latest acquisition is part of a broader growth strategy for Godrej Properties. In the July-September quarter alone, the company added six new land parcels, with an estimated booking value of ₹9,650 crore. These new acquisitions reflect Godrej's aggressive expansion in India's real estate sector.

In fact, during the first six months of this fiscal year, Godrej Properties secured eight new land parcels with a total estimated saleable area of 11 million sq ft and a booking value potential of ₹12,650 crore. These additions reinforce the company’s position as a dominant player in India's real estate market.

Record-Breaking Sales Growth

Godrej Properties is not just expanding its land portfolio—it is also breaking sales records. In the April-September period, the company’s sales booking value soared by 89% year-on-year to over ₹13,800 crore, the highest sales value ever recorded by Godrej Properties in the first half of any fiscal year.

A Promising Future

With a legacy of delivering high-quality real estate projects and a vision to continue reshaping India’s urban landscape, Godrej Properties is set to revolutionize residential living in Kharghar. Their commitment to developing premium residential spaces in key markets ensures that they will remain a key player in the country’s real estate growth for years to come.