Godrej Properties: Kolkata Land Deal Sparks Investor Interest

21 Nov 2024 , 10:15 AM

Given that Godrej Properties announced the purchase of a 53-acre land tract in Kolkata with a possible development of 1.3 million square feet of saleable space, the company’s shares are probably going to continue to be in the spotlight today.

According to the filing, the site is ideally situated in Joka’s rapidly growing micromarket, which is near the main city and Diamond Harbour, a popular weekend resort by the sea.

One of the top real estate developers in India, Godrej Properties Ltd., declared today that it had purchased a 53-acre plot of property in Joka, Kolkata. According to the company’s registration with the stock markets, the planned project is expected to have a development potential of about 1.3 million square feet of saleable space, principally consisting of residential plotted development with an estimated income potential of Rs 500 crore.

Joka provides people with convenience and a high standard of living thanks to IIM-Calcutta, a landmark in education, improved healthcare facilities, and commercial centres.

“This land purchase aligns with our plan to expand our footprint in India’s most important cities. Our goal is to construct a remarkable plotted development project in Joka that adds value for its inhabitants over the long run’, stated Gaurav Pandey, MD & CEO of Godrej Properties.

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