Godrej Properties acquires 58 acres land in Nagpur

Mumbai: Realty firm Godrej Properties on Thursday said it has acquired 58 acres of land in Nagpur for plotted residential development.

In a regulatory filing, the company said the development on this land will comprise primarily of plotted residential units and will offer an estimated saleable area of 1.5 million sqft. The company, however, did not disclose further details on the transaction value.

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"We are happy to add this new project in Nagpur to our portfolio. This fits with our strategy of strengthening our presence in key residential markets across the country," Mohit Malhotra, MD; CEO, Godrej Properties, said. 

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The company noted that Nagpur has many prominent infrastructure projects like the Metro Rail project, IT and manufacturing facilities in MIHAN SEZ and Airport Cargo Hub, along with the upcoming Samruddhi Mahamarg which will further boost national connectivity and the related demand for quality residential units.

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