Godrej Properties announces major acquisition in Joka, Kolkata

Godrej Properties Limited, one of India’s leading real estate developers, has announced the acquisition of a prime 53-acre land parcel in Joka, Kolkata. This significant purchase paves the way for an ambitious residential plotted development project spanning approximately 1.3 million square feet of saleable area. With an estimated revenue potential of ₹500 crore, this development is set to make a substantial impact on the region’s real estate market.

Strategically situated in one of Kolkata’s fastest-growing micro-markets, Joka boasts proximity to Diamond Harbour and other key areas, thanks to extensive road networks and connectivity via Kolkata Metro’s Line 3. Joka is also home to the prestigious Indian Institute of Management-Calcutta (IIM-C), further enhancing its appeal as a burgeoning residential hub.

The Managing Director and Chief Executive Officer of Godrej Properties, Gaurav Pandey, highlighted the strategic value of the acquisition, stating that the company aims to deepen its presence in India’s leading cities by creating a high-quality residential community in Joka. He noted that the project aligns with the company’s long-term vision of delivering value-driven developments for residents while contributing to the growth of India’s real estate sector.

Strengthening Kolkata’s real estate landscape

Joka has witnessed rapid infrastructural development over recent years, driven by enhanced healthcare facilities, improved commercial centers, and an increasing demand for modern housing solutions. Godrej Properties plans to leverage these advantages, ensuring that the upcoming project complements the area’s development trajectory while incorporating sustainable building practices.

The company, renowned for its innovative and sustainable development strategies, has consistently ranked as a top performer in the global real estate sustainability benchmark. Its commitment to green buildings and excellence has positioned it as a trusted name in the Indian real estate industry.

This latest venture follows a stellar fiscal year for Godrej Properties, where the company emerged as India’s largest developer by the value of residential sales. With this acquisition, Godrej Properties is poised to further enhance its market footprint, tapping into the growing residential demand in Kolkata.