Godrej Properties acquires land in Navi Mumbai’s Kharghar area, marking another significant step in the company’s expansion. The real estate giant has secured 6.54 acres of land from the City and Industrial Development Corporation (CIDCO) for ₹717 crore. This acquisition consists of three contiguous land parcels and is under a 60-year lease agreement.
Godrej Properties Acquires Land in Navi Mumbai’s Kharghar
The transaction was officially registered on March 19, 2025. As part of the process, Godrej Properties paid a stamp duty of over ₹35 crore and a registration fee of ₹90,000. The newly acquired land has mixed-use zoning, meaning it can be developed for both residential and commercial purposes.
Godrej Properties plans to develop around 2 million square feet of premium residential apartments on this site. The project is expected to generate an estimated revenue of ₹3,500 crore. This aligns with the company’s strategy to strengthen its presence in key real estate markets across India.
Kharghar is rapidly becoming a sought-after real estate destination, thanks to ongoing infrastructure projects. Developments like the operational Atal Setu and the upcoming Navi Mumbai International Airport (NMIA) are enhancing connectivity and boosting property demand in the region.
The area has witnessed a surge in residential transactions. According to Anand Moorthy, co-founder and CBO at Square Yards, there was a 35% year-on-year increase in residential transactions in Navi Mumbai during the last quarter of 2024. This growing demand makes Kharghar an ideal location for Godrej Properties’ latest venture.
The new project will offer a range of apartment configurations, catering to different buyer preferences. The aim is to create a vibrant residential community that blends modern living with convenience. The mixed-use zoning also means the development could include retail spaces, offices, and other amenities to enhance the living experience.
Godrej Properties acquiring land in Kharghar signals confidence in the region’s growth potential. The combination of infrastructure improvements and increasing demand makes this a strategic move. The company continues to expand its portfolio, focusing on high-potential locations that align with urban growth and connectivity.
As Navi Mumbai evolves into a major urban hub, Godrej Properties’ new development is expected to contribute to the area’s transformation. The project will not only provide premium living spaces but also add value to the local real estate market.
With this latest acquisition, Godrej Properties reinforces its reputation for identifying promising locations and delivering high-quality projects. As the development takes shape, Kharghar is set to become an even more attractive destination for homebuyers and investors alike.
