Godrej buys 53-acre land in Kolkata to develop Rs 500 crore residential project

Godrej Properties Ltd has acquired 53-acre onshore successful Kolkata to physique a residential plotted improvement task that volition person gross imaginable of astir Rs 500 crore.

Godrej Properties is 1 of India's starring existent property firms. In a regulatory filing connected Wednesday, the institution informed that it has acquired astir 53-acre onshore parcel successful Joka, Kolkata.

"The projected task is estimated to person a improvement imaginable of 1.3 cardinal quadrate feet of saleable country comprising chiefly residential plotted improvement with an estimated gross imaginable of Rs 500 crore," Godrej Properties said.

The onshore is strategically located successful the fast-developing micro-market of Joka, which is adjacent to the main metropolis and successful proximity to Diamond Harbour, a well-known seaside play getaway.

Gaurav Pandey, MD & CEO, Godrej Properties, said, "This onshore acquisition fits our strategy of deepening our beingness crossed India's starring cities. We volition purpose to physique an outstanding plotted improvement task successful Joka that creates semipermanent worth for its residents."