GeeCee Ventures Acquires Prime Mumbai Land for ₹139 Crore, Expanding Real Estate Portfolio
GeeCee Ventures, a prominent player in the Indian real estate sector, has made a strategic move by acquiring a prime piece of land in Mumbai's Goregaon West area. The company has purchased freehold land measuring 4,003.80 square meters for a consideration of ₹139 crore, excluding stamp duty and registration charges. The land is located at Plot No. 1, Udyog Nagar Estate, Swami Vivekanand Road, Goregaon West, Mumbai - 400104.
The land bears CTS no. 919/A and is strategically located in a rapidly developing area of Mumbai. GeeCee Ventures has executed and registered a conveyance deed for the purchase, and the company plans to undertake appropriate development on this land in the future. This acquisition represents a significant step in expanding the company's real estate portfolio in one of Mumbai's prime locations.
The transaction is transparent, with no affiliation to the Promoter/Promoter Group or related parties. The seller is a third-party entity, and the transaction does not fall under the category of Related Party Transactions. No Promoters, Directors, Key Managerial Persons, or their relatives have any direct or indirect interest in this transaction.
This land acquisition is a strategic move by GeeCee Ventures to capitalize on the potential for development in the Goregaon West area. As the real estate market in Mumbai continues to evolve, this acquisition positions GeeCee Ventures to benefit from future growth opportunities in the region. The company's decision to invest a substantial amount in this land parcel indicates its confidence in the area's development potential.
Historical stock returns for GeeCee Ventures show mixed performance over different periods. Over the past day, the stock has seen a positive return of +3.00%, and over the past five days, it has gained +4.40%. However, the stock has seen a slight decline over the past month (-1.62%) and a more significant drop over the past year (-15.36%). Despite these fluctuations, the five-year performance is notably strong at +371.72%, indicating a long-term upward trend.
GeeCee Ventures' recent activities, including this significant land acquisition, reflect the company's strategic focus on expanding its real estate portfolio and positioning itself for future growth in the competitive Mumbai real estate sector. The development plans for this newly acquired land could have a significant impact on the company's future performance and market position.
