Godrej Properties (GPL) has acquired three adjacent land parcels on lease from the City and Industrial Development Corporation (CIDCO) located in Kharghar, Navi Mumbai. The overall stamp duty for this transaction amounted to Rs 35.82 crore.
Each transaction registration required a registration fee of Rs. 30,000, according to the Inspector General of Registration (IGR) documents reviewed by Square Yards. All the transactions were registered in March 2025.The total land area is 26,478 sq meters (6.54 acre), with a total value of Rs. 716.58 crore.The agreements are set for a duration of 60 years.
Anand Moorthy, co-founder and Chief Business Officer of Capital Market & Services at Square Yards, remarked, “Our data reveals a 35% year-on-year growth in registered residential transactions during Q4 (October-December) 2024, with prominent areas such as Kharghar, Vashi, Belapur CBD, and Panvel at the forefront.”
The property is designated for mixed-use zoning, encompassing both residential and commercial purposes, in accordance with the transaction agreement. Recently, the company purchased 10 acres of land in Yelahanka, Bengaluru. The project is projected to offer a developable potential of 1.5 million square feet of saleable area, with an anticipated revenue potential of Rs 2,500 crore.
