Godrej Properties buys 89-acre land parcel in Maharashtra’s Khalapur.

Godrej Properties Ltd. has acquired an 89-acre land parcel in the Raigad district of Maharashtra, with a development potential of 1.9 million square feet.

In an exchange filing, the company said it intends to set up a residential plotted development on the land, which is located in the micro market of Khalapur.

“Residential plotted development has gained significant traction in recent years and Khalapur is a promising micro market in which to expand our presence in this space,” Managing Director and Chief Executive Officer, Gaurav Pandey said in the release.

ET