Godrej Properties announced on September 30 that it has entered into an agreement to acquire a well-located land parcel in Kalyan, Mumbai, and will develop a residential project there.
Spread across 20 acres, the project will offer approximately 1,39,000 square meters (1.5 million square feet) of the 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, said a press release by the company.
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.”