Godrej Properties, the real estate arm of the Godrej Group, has entered into an agreement to develop a residential project in Kalyan area near Mumbai, company disclosed in the BSE filing on Wednesday. The Mumbai-based real estate developer announced that the 20 acres land parcel will offer approximately 139,000 square meters (1.5 million square feet) of saleable area comprising primarily of residential apartments of varied configurations with a small amount of retail / commercial space.
Kalyan is an established micro-market within MMR and this site is strategically located with multiple schools, hospitals, retail and residential spaces in close proximity.
Mr. Pirojsha Godrej, Executive Chairman, Godrej Properties said, “We are happy to add this new project in Kalyan to our portfolio. This fits well with our strategy of deepening our presence in key markets across India’s leading cities.”