Godrej Properties buys land parcel in Mumbai for its luxury housing project


firm on Monday said it has acquired 0.5 acres of land in to develop a luxury housing project with an estimated sales value of Rs 1,200 crore.

In a regulatory filing, the company informed that it has bought a land parcel to develop a luxury project near Carmichael Road in .

The land parcel, spread across 0.5 acres, was purchased from the Karam Chand Thapar (KCT) group.

The new project will have an estimated booking value potential of approximately Rs 1,200 crore, the company said.

“The demand for luxury realty has been strong over the past few years and this location affords us the opportunity to create a landmark boutique luxury residential development,” said Mohit Malhotra, MD & CEO, .

Varun Thapar, Vice Chairman and Executive Director – KCT Group, said Indian City Properties Ltd, the arm of the KCT Group, owned this prime land asset in South for nearly seven decades.

Mumbai-based is one of the leading developers in the country. It is part of the business conglomerate Godrej Group.

Godrej Properties mainly focuses on Delhi-NCR, Mumbai Metropolitan Region, Pune and Bengaluru markets.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)


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