Godrej Properties Ltd. has announced the acquisition of a substantial 90-acre land parcel in Khalapur in Raigad, Maharashtra. The realtor plans to build approximately 1.7 million square feet of residential plotted development on the land located near the Karjat-Khopoli road, according to an exchange filing.
Residential plotted development has gained significant traction in recent years. Khalapur is a promising upcoming location, said Gaurav Pandey, managing director and chief executive officer of Godrej Properties.
"Following the excellent response to our last development, Godrej Hillview Estate, we aim to expand our presence in the region. Our goal is to create an outstanding residential community that adds long-term value for its residents," he said.
Situated about 70 kilometers from Mumbai, Khalapur is renowned for its picturesque landscape and robust infrastructure. The area boasts several schools, healthcare facilities, shopping centers, and entertainment venues, making it an attractive option for residential development, the filing said.
Its proximity to major transport links such as the Mumbai Trans Harbour Link and the Mumbai-Pune Expressway also enhances connectivity to Mumbai, Navi Mumbai, and Pune. The forthcoming Navi Mumbai International Airport is expected to further improve accessibility to Khalapur and its surrounding regions, it said.
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