June 15, 2023: Real estate developer Godrej Properties (GPL) will acquire a land parcel of around 7.44 acre at New Alipore in Kolkata from the West Bengal Housing Infrastructure Development Corporation Limited (WBHIDCO). It has been declared as the highest bidder in the e-auction, the company said in a regulatory filing, as stated in media reports.
New Alipore is a residential neighbourhood in South Kolkata and the neighbouring localities are Kalighat and Tollygunge. The locality has a railway station and it is 3.2 kilometre (km) from the Behala Airport.
According to the official release, Godrej Properties will develop the land parcel as a luxury group housing project. With a developable potential of around 9.8 lakh square foot (sqft), the estimated revenue potential of this project is around Rs 1,200 crore.
In April 2023, Godrej Properties acquired around four acre of land near Koregaon Park in Pune for developing a luxury group housing project. This project has a developable potential of around 7.5 lakh sqft with an estimated revenue potential of nearly Rs 1,000 crore.
| Got any questions or point of view on our article? We would love to hear from you. Write to our Editor-in-Chief Jhumur Ghosh at [email protected] |
Harini is a content management professional with over 12 years of experience. She has contributed articles for various domains, including real estate, finance, health and travel insurance and e-governance. She has in-depth experience in writing well-researched articles on property trends, infrastructure, taxation, real estate projects and related topics. A Bachelor of Science with Honours in Physics, Harini prefers reading motivational books and keeping abreast of the latest developments in the real estate sector.
Related Posts
Property: The 1st choice among 7th Pay Commission beneficiaries.
Kolkata city to lower its carbon footprint.
Home buyer satisfaction index at all-time low: Survey.
9.6 million sq ft Grade A office space absorbed in Q3: Colliers report.
CREDAI Bengal’s property expo to be held from November 10-13, 2016.
Realistic pricing key to market revival in 2017: Colliers International’s India Property Outlook.
