Don’t Miss This! Godrej Properties Acquires 90 Acres in Raigad – What You Need to Know About This Big Move

Godrej Properties Acquires 90-Acre Land Parcel in Raigad for Plotted Development – What You Need to Know

Godrej Properties Expands Its Presence in Maharashtra with Strategic Land Acquisition

Godrej Properties has recently acquired a 90-acre land parcel in Raigad, Maharashtra, aimed at residential plotted development. This acquisition marks a significant step in the company’s ongoing expansion strategy, particularly in Tier II and Tier III locations. Situated strategically near key infrastructure such as the Mumbai Trans Harbour Link and the Mumbai-Pune Expressway, the land promises excellent connectivity to key urban areas, including Mumbai, Navi Mumbai, and Pune.

Why Raigad Is a Hotspot for Plotted Development

This newly acquired land is expected to offer a development potential of approximately 1.7 million square feet of saleable area, with the majority dedicated to residential plotted development. Raigad, located just 70 kilometers from Mumbai, is rapidly emerging as a promising area for real estate development. Godrej Properties’ focus on plotted developments, especially in areas like Khalapur, comes after the success of their previous project, Godrej Hillview Estate, which saw an excellent response from buyers.

According to Gaurav Pandey, MD & CEO of Godrej Properties, “Residential plotted development has gained significant traction in recent years. Khalapur is a promising upcoming location, and following the success of our last development, we are expanding our footprint in the region.”

Godrej Properties’ Growth and Strategic Focus

In line with its strategic vision, Godrej Properties has been focusing its efforts on both Tier I and emerging markets. The company has been acquiring land for residential plotted development, particularly in growing cities across India. Apart from its focus on the Mumbai Metropolitan Region (MMR), the company has also concentrated efforts on Delhi-NCR, Bengaluru, Pune, and Hyderabad for group housing projects.

Over the last fiscal year, Godrej Properties achieved an impressive 84% increase in sales bookings, totaling a record Rs 22,527 crore – the highest among listed real estate firms in 2023-24. For the current fiscal year, Godrej Properties is targeting Rs 27,000 crore in sales bookings. In the first quarter of this fiscal, the company has already seen a near four-fold increase in sales bookings, totaling Rs 8,637 crore compared to Rs 2,254 crore in the same period last year.

What Does This Mean for the Real Estate Market in Raigad?

The development of a large-scale residential project in Raigad reflects the growing interest in areas surrounding Mumbai, as buyers seek more affordable and spacious residential options outside the hustle of the city. The proximity to major transportation links like the Mumbai Trans Harbour Link, which is expected to boost connectivity between Mumbai and Navi Mumbai, makes Raigad an attractive option for buyers looking for easy access to urban amenities.

With a focus on plotted development, Godrej Properties is capitalizing on the increasing demand for larger, customizable residential plots in emerging areas. This move is expected to fuel the development of more affordable housing options while catering to the evolving preferences of homebuyers.

Conclusion: Godrej Properties’ Bold Move in Raigad

Godrej Properties’ acquisition of the 90-acre land parcel in Raigad is a clear indicator of the company’s commitment to expanding its presence in emerging markets. With excellent connectivity to Mumbai, Navi Mumbai, and Pune, the area is poised for substantial growth, making it a prime destination for real estate development.

FAQs

• What is the potential size of development on the acquired land? The 90-acre land has an estimated development potential of 1.7 million square feet, primarily for residential plots.
• Why is Raigad an attractive location for plotted development? Raigad’s proximity to major transport corridors, including the Mumbai Trans Harbour Link and Mumbai-Pune Expressway, offers excellent connectivity to Mumbai, Navi Mumbai, and Pune, making it an ideal location for residential projects.
• What are Godrej Properties’ sales goals for this fiscal year? The company has set a target of achieving Rs 27,000 crore in sales bookings for the current fiscal year, building on the record-breaking sales of the previous year.

Ready to invest in Raigad’s emerging real estate market? Explore Godrej Properties’ latest developments or contact us for more details on investment opportunities.

Name *

First

Last

Phone Number *

Email *

Submit