Godrej Properties acquires 58 acres of land in Nagpur to develop housing project

28 Apr 2022 , 01:42 PM

Godrej Properties Ltd on Thursday announced that it has acquired 58 acres of land in Nagpur. The development on this land will comprise primarily of plotted residential units and will offer an estimated saleable area of 1.5 million sq. ft.

The project has good connectivity to Nagpur Airport and the Nagpur – Hyderabad highway with well-established social infrastructure in the vicinity. Nagpur has many prominent infrastructure projects like the Metro Rail project, IT and manufacturing facilities in MIHAN SEZ and Airport Cargo Hub, along with the upcoming Samruddhi Mahamarg which will further boost national connectivity and the related demand for quality residential units.

Mohit Malhotra, MD & CEO, Godrej Properties, said, “We are happy to add this new project in Nagpur to our portfolio. This fits with our strategy of strengthening our presence in key residential markets across the country. We will seek to ensure this project delivers an outstanding lifestyle to its residents.”

On Thursday at around 1:44 PM, Godrej Properties was trading at Rs1,582.55 apiece up by Rs12.3 or 0.78% from its previous closing of Rs1,570.25 apiece on the BSE.