Indian real estate giant Godrej Properties Ltd. (GPL) has announced the purchase of a significant 7.44-acre land parcel in New Alipore, a prime residential area of Kolkata.
The acquisition, from West Bengal Housing Infrastructure Development Corporation Ltd., was revealed after Godrej Properties was confirmed as the highest bidder in an e-auction.
The luxury group housing project, set to be developed on the newly acquired land, is forecasted to offer approximately 9.8 lakh square feet of developable potential.
With an estimated revenue potential of roughly INR 1,200 crores, the project signals Godrej’s increasing focus on the luxury real estate market. The area is notable for its well-established physical and social infrastructure, and offers excellent connectivity to major social and commercial hubs in Kolkata.
Gaurav Pandey — Godrej Properties MD and CEO said: “We are happy to acquire this land parcel in one of the premium locations in Kolkata. The demand for luxury realty has been strong over the past few years. This will be our second luxury development in the city, and we aim to build an outstanding residential community that creates long term value for its residents.”
Godrej Properties sets sight on luxury real estate market with land acquisition in Kolkata added by Pallavi Madhiraju on
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