Godrej Properties Emerges as Highest Bidder for 6.5 Acre Land Parcels in Mumbai Metropolitan Region with INR 3,500 Crore Revenue Potential

Godrej Properties Ltd. (GPL) has emerged as the highest bidder to develop a group housing project at a premium location in Sector 5-A, Kharghar, Mumbai Metropolitan Region. The 6.54 acre plots, according to the e-auction portal of City and Industrial Development Corporation of Maharashtra (CIDCO), will offer a development potential of ~ 2 million square feet, comprising premium residential apartments of varied configurations. The estimated combined revenue potential of these plots is ~ INR 3,500 crore. The area is in proximity to Kharghar residential node and boasts of a well-developed social infrastructure with healthcare facilities and educational institutions. This development will enjoy excellent views of the Kharghar hills.