Godrej Properties Ltd (GPL), one of India’s leading real estate developers, announced on Tuesday, 31st January, that it has signed an agreement to purchase a land block outright in the fast-developing micro market of Khalapur in the Raigad district of Maharashtra.
The proposed project, which spans 89 acres and is next to the Imagicaa Theme Park, is estimated to have a development potential of about 1.9 million SqFt of saleable area, largely comprised of residential plotted development.
The land in question is in close proximity to the Mumbai-Pune Expressway and offers good connectivity to Mumbai, Navi Mumbai, and Pune. The proposed Navi Mumbai International Airport will further boost connectivity to Khalapur and surrounding areas.
Khalapur, which is 70 kilometers from Mumbai, is a picturesque area with a well-developed social and municipal infrastructure that includes numerous schools, medical facilities, shopping centers, and entertainment venues.