Godrej Properties emerges as highest bidder for 6.5 acres land in MMR

Gaurav Pandey. File
| Photo Credit: Special Arrangement

Godrej Properties Ltd. said it has emerged as the highest bidder to develop a group housing project at a premium location in Sector 5-A, Kharghar, near Mumbai according to the e-auction portal of City and Industrial Development Corporation of Maharashtra (CIDCO).

“The plots, measuring 6.54 acres, will offer a development potential of 2 million square feet, comprising premium residential apartments of varied configurations, with an estimated combined revenue potential of ₹3,500 crore,” the company said without disclosing the bidding amount. 

Gaurav Pandey, MD & CEO, Godrej Properties, said, “Our entry into the Kharghar micro-market aligns well with our strategy of strengthening our portfolio across the key real estate markets in India. We will aim to build an outstanding residential community that creates long-term value for its residents.”