Godrej Properties Acquires 6.54 Acres in Navi Mumbai for ₹716.58 Cr

Godrej Properties Limited has secured three contiguous land parcels on lease from CIDCO in Kharghar, Navi Mumbai. According to property registration documents reviewed by Square Yards, the total land spans 26,478 square meters (2.64 hectares/6.54 acres) and is valued at ₹716.58 crore.

Anand Moorthy, Co-founder and CBO, Capital Market & Services at Square Yards, said, “Navi Mumbai is currently witnessing a significant surge in real estate activity, largely attributed to extensive infrastructure upgrades in the region. The operational status of the Atal Setu and the impending completion of the Navi Mumbai International Airport (NMIA) are pivotal factors driving this increased demand for residential and commercial properties. Our data indicates a 35% YoY increase in registered residential transactions in Q4 (October-December) 2024, with key nodes like Kharghar, Vashi, Belapur CBD, and Panvel leading the charge. Developers are actively expanding their footprint, launching large-scale projects, and recent land transactions underscore their confidence in the region’s growth potential. The combination of connectivity augmentation and upcoming commercial developments is anticipated to create a dynamic environment conducive to real estate growth across various asset classes.”

Kharghar is a well-planned residential locality in Navi Mumbai, developed by CIDCO. The area offers good connectivity via the Mumbai-Pune Expressway, Sion-Panvel Highway, and the upcoming Navi Mumbai Metro, enhancing accessibility to key business hubs. It also has a strong social infrastructure, featuring established schools, hospitals, and retail centers. The proposed International Corporate Park (ICP) by CIDCO in Kharghar, aims to become a significant business hub featuring modern office spaces and amenities. This development is expected to enhance Kharghar's appeal, stimulating economic activity.