Mumbai-based real estate developer Godrej Properties Ltd. (GPL) has emerged as the highest bidder in the CIDCO e-auctioning process with the total bidding value of Rs 166 crore for two adjacent plots.
Situated approximately 1 km away from Palm Beach, Sanpada is a location in Navi Mumbai and offers a well-developed social and civic infrastructure with reputed schools, hospitals, residential and commercial spaces in close proximity, the company said.
Spread over around 1.5 acres, this project will offer around 4 lakh square feet of development potential comprising primarily premium residential apartments of varied configurations with a small amount of high street retail at the base of the development, the company said.
“We are happy to add this new project in Navi Mumbai to our portfolio. This project will strengthen our development portfolio in MMR and fits well with our strategy of deepening our presence in key markets across India's leading cities. We will seek to ensure this project delivers an outstanding lifestyle for its residents,” said Pirojsha Godrej, executive chairman, Godrej Properties.
In February, the City & Industrial Development Corporation earned around Rs 677 crore through sale of 19 commercial and residential plots measuring over 44,000 sqm in Sanpada, Kalamboli, Kharghar and Ulwe, reports have said.
The Mumbai-based developer posted a 69 per ce
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