Godrej Properties Secures 60-Year Land Lease in Navi Mumbai for ₹717 Crore
Godrej Properties, a leading real estate developer, has secured a 60-year land lease from CIDCO in Navi Mumbai for ₹717 crore. The project is set to transform the region with a blend of residential and commercial spaces.
Godrej PropertiesNavi MumbaiCidcoReal EstateLand LeaseReal Estate NewsMar 26, 2025
The land, located in the vibrant city of Navi Mumbai, spans over 40 acres and is strategically situated to attract both local and international investors. Navi Mumbai, often referred to as the 'City of Tomorrow,' is known for its well-planned infrastructure and rapid urbanization. This project aligns perfectly with Godrej Properties' vision of creating sustainable and integrated townships.
Godrej Properties, a part of the diversified Godrej Group, has a rich history of delivering premium real estate projects across India. The company's commitment to innovation, quality, and customer satisfaction has made it a trusted name in the industry. With this new acquisition, Godrej Properties aims to set new benchmarks in the real estate sector.
The 60-year lease agreement with CIDCO is a testament to the trust and confidence placed in Godrej Properties. CIDCO, the nodal agency for the development of Navi Mumbai, has been instrumental in transforming the region into a modern, well-connected city. The collaboration between Godrej Properties and CIDCO is expected to bring about significant economic and social benefits to the area.
The project is designed to cater to the growing demand for quality living spaces and commercial establishments in Navi Mumbai. The 40-acre plot will feature a mix of residential apartments, commercial spaces, and recreational facilities. The development will be equipped with state-of-the-art amenities, including parks, schools, healthcare centers, and modern retail outlets, making it a complete lifestyle destination.
In a press statement, Pirojsha Godrej, Chairman of Godrej Properties, expressed his excitement about the new venture. 'This acquisition is a significant milestone for us, and we are thrilled to be a part of Navi Mumbai's growth story. We are committed to creating a world-class township that will enhance the quality of life for its residents and contribute to the region's development,' he said.
The announcement has been met with enthusiasm from industry experts and potential buyers. Real estate analysts predict that the project will not only boost the local real estate market but also attract a diverse range of investors and residents. The combination of a prime location and a reputable developer like Godrej Properties is expected to make the project a highly sought-after opportunity.
Construction is set to commence in the coming months, with the first phase expected to be completed within the next few years. Godrej Properties has a robust project management team in place to ensure that the development meets the highest standards of quality and sustainability. The company is also committed to adhering to all environmental regulations and promoting green building practices.
In conclusion, the acquisition of the 40-acre land lease by Godrej Properties in Navi Mumbai represents a significant step forward in the company's growth strategy. With a strong focus on innovation and customer-centric development, Godrej Properties is set to deliver a project that will redefine the real estate landscape in Navi Mumbai.
Frequently Asked Questions
What is the duration of the land lease secured by Godrej Properties?
Godrej Properties has secured a 60-year land lease.
How much did Godrej Properties pay for the land lease?
Godrej Properties paid ₹717 crore for the land lease.
Where is the land located?
The land is located in Navi Mumbai, covering an area of 40 acres.
What types of developments are planned for the land?
The project will feature a mix of residential apartments, commercial spaces, and recreational facilities.
When is the construction expected to begin?
Construction is set to commence in the coming months, with the first phase expected to be completed within the next few years.
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