Godrej Properties has successfully completed a land deal acquiring a 109-acre land parcel from a Nagpur-based businessman, Rohit Agrawal. The newly acquired land is located in a prime area, sandwiched between the Mihan-SEZ and the Samruddhi Expressway, which will enhance its potential for development. It is worth noting that this is Godrej Properties’ second significant land purchase in Nagpur following their 58-acre acquisition near Besa in April last year.
The transaction involves two components, one of which is a cash transaction, and the other is developed land valued at over $100 crore that Godrej Properties will transfer to the seller, according to insider sources. The company stated in a press release that the development on this newly acquired land will focus on individual residential units, offering an estimated saleable area spanning an impressive 2.2 million square feet. This move highlights the company’s commitment to expanding its real estate portfolio and providing quality housing solutions in high-demand regions.
