Godrej Properties Ltd. (GPL), (BSE scrip id: GODREJPROP), one of India’s leading real estate developers, today announced that it has acquired a ~ 53 acre land parcel in Joka, Kolkata.
The proposed project is estimated to have a development potential of ~ 1.3 million square feet of saleable area comprising primarily residential plotted development with an estimated revenue potential of ~ INR 500 crore.
The land is strategically located in the fast-developing micro-market of Joka, which is close to the main city and in proximity to Diamond Harbour, a well-known seaside weekend getaway.
Joka has rapidly transformed into a promising residential hub in Kolkata, fuelled by infrastructure growth. With IIM-Calcutta as an educational landmark, enhanced healthcare facilities, and commercial centers, Joka offers residents convenience and quality of life. On the back of strategic connectivity through Kolkata Metro’s Line 3 and extensive road networks, Joka is well-connected to key areas across the city.
Gaurav Pandey, MD & CEO, Godrej Properties, said, “This land acquisition fits with our strategy of deepening our presence across India’s leading cities. We will aim to build an outstanding plotted development project in Joka that creates long term value for its residents.”
About Godrej Properties Limited:
Godrej Properties brings the Godrej Industries Group philosophy of innovation, sustainability, and excellence to the real estate industry. Each Godrej Properties development combines a 127-year legacy of excellence and trust with a commitment to cutting-edge design, technology, and sustainability. In FY 2024, Godrej Properties emerged as the largest developer in India by the value of residential sales achieved. Godrej Properties has deeply focused on sustainable development. In 2010, GPL committed that all of its developments would be third-party certified green buildings. In 2020 and again in 2021 and 2022, the Global Real Estate Sustainability Benchmark ranked GPL #1 globally amongst listed residential developers for its sustainability and governance practices. In 2017, GPL was one of the founding partners of the Sustainable Housing Leadership Consortium (SHLC), whose mission is to spread sustainable development practices across the Indian real estate sector. In recent years, Godrej Properties has received over 400 awards and recognitions, including Developer of the Year at the GRI India Awards, 2024, the Porter Prize 2019, The Most Trusted Real Estate Brand in the 2019 Brand Trust Report, Builder of the Year at the CNBC-Awaaz Real Estate Awards 2019, and The Economic Times Best Real Estate Brand 2018.
