Godrej Properties has expanded its footprint in Kolkata by acquiring a 53-acre land parcel in the fast-growing Joka micro-market. The company plans to develop residential plots on this site, targeting an estimated ₹500 crore in revenue, the company announced on November 20, 2024.
Project Highlights
- Development Potential: The project will offer around 1.3 million square feet of saleable area, primarily for residential plotted development.
- Revenue Projection: Expected to generate ₹500 crore from the development.
- Strategic Location: Joka, situated near Diamond Harbour, is a prime location offering a blend of urban and seaside lifestyles.
Statement from Leadership
Gaurav Pandey, MD & CEO of Godrej Properties, stated,
“This acquisition strengthens our presence in key cities. We aim to create an exceptional plotted development project in Joka that provides long-term value for residents.”
Why Joka?
Joka has emerged as a sought-after residential hub due to its:
- Proximity to IIM-Calcutta, a key educational landmark.
- Enhanced connectivity via Kolkata Metro Line 3.
- Close location to Diamond Harbour, a popular weekend destination.
The area’s evolving infrastructure has made it a preferred location for homebuyers and investors.
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Source: Moneycontrol
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