Company plans to develop a residential project; project to offer 15 lakh square feet of saleable area
Godrej Properties on September 30 said it has entered into an agreement to acquire a land parcel in Kalyan, Mumbai spread across 20 acres.
The project will offer approximately 139,000 square meters (1.5 million square feet) of a saleable area comprising primarily of residential apartments of varied configurations with a small amount of retail and commercial space, it said.
The deal value and the name of the seller have not been disclosed.
Kalyan is an established micro-market within MMR and this site is strategically located with multiple schools, hospitals, retail and residential spaces in close proximity.“We are happy to add this new project in Kalyan to our portfolio. This fits well with our strategy of deepening our presence in key markets across India's leading cities,” said Pirojsha Godrej, executive chairman, Godrej Properties.