Shares of Godrej Properties Ltd. will be in focus on Monday after the real estate developer announced a joint development agreement (JDA) for an 18-acre land parcel in Thane, Mumbai. The company estimates the project carries a revenue potential of over Rs 7,500 crore.
The land is situated in a well-established micro-market in Thane, an area that has seen steady residential demand and improving infrastructure connectivity in recent years. The company said the project will be developed as an integrated residential community, leveraging the scale of the parcel.
Infrastructure Tailwinds Strengthen Thane's Appeal
The site benefits from connectivity to both operational and upcoming infrastructure projects. These include the Thane-Wadala Metro corridor and the proposed Thane-Borivali twin-tube tunnel, which are expected to enhance east-west connectivity across the Mumbai Metropolitan Region (MMR).
Additional large-scale infrastructure initiatives such as the Thane Coastal Road and the Mumbai-Ahmedabad Bullet Train project - which will feature a dedicated Thane station - are anticipated to significantly reduce travel times. Several proposed metro corridors are also expected to improve access to key commercial and employment hubs across MMR.
Improved connectivity has been a key driver of residential absorption in Thane, positioning it as a preferred location for homebuyers seeking a balance between affordability and access to Mumbai's core business districts.
Fourth Project in Thane
Commenting on the development, Managing Director and CEO Gaurav Pandey said Thane has emerged as one of the most attractive residential destinations within MMR, offering a combination of lifestyle amenities and public infrastructure.
He added that this marks the company's fourth project in Thane and highlighted that the size of the land parcel enables a large-format, well-planned residential development.
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