Godrej Properties Secures 6.54 Acres in Navi Mumbai for ₹717 Crore at CIDCO Auction
Godrej Properties has made a significant move in the real estate market by acquiring 6.54 acres in the Kharghar micro-market of Navi Mumbai for ₹717 crore. This strategic acquisition aligns with their goal of expanding their portfolio in key Indian market
Real EstateGodrej PropertiesNavi MumbaiCidco AuctionKhargharReal Estate NewsMar 26, 2025
The acquisition is a strategic move that aligns well with Godrej Properties' broader goal of strengthening its presence in key real estate markets across India. Kharghar, a part of Navi Mumbai, has been witnessing rapid urbanization and development over the past few years, making it an attractive destination for both residential and commercial projects.
CIDCO, the nodal agency responsible for the planning and development of Navi Mumbai, organized the auction to facilitate urban growth and attract investments in the region. The successful bid by Godrej Properties is expected to bring in substantial infrastructure improvements and modern amenities to the Kharghar area, thereby enhancing its appeal to homebuyers and investors.
Speaking on the acquisition, Pirojsha Godrej, Chairman of Godrej Properties, expressed his optimism about the potential of the Kharghar micro-market. He stated, 'Our entry into Kharghar is a testament to our commitment to providing high-quality living spaces in well-connected and developing areas. This acquisition will enable us to offer a wide range of residential options to meet the diverse needs of our customers.'
The 6.54 acres of land is well-connected to major transport hubs and urban centers, making it an ideal location for the development of residential projects. Godrej Properties is known for its focus on sustainable and green building practices, and the new project is expected to incorporate these principles to create a sustainable and livable community.
The real estate market in Navi Mumbai has been on the rise, driven by factors such as improved infrastructure, better connectivity, and a growing demand for affordable and well-located homes. The acquisition by Godrej Properties is expected to further boost the market, attracting more developers and investors to the region.
In line with its corporate social responsibility (CSR) initiatives, Godrej Properties is also committed to contributing to the local community's development. The company plans to engage in various social and environmental programs to ensure that the new project not only benefits its residents but also contributes positively to the surrounding areas.
The successful bid at the CIDCO auction is a clear indication of the strong confidence that Godrej Properties has in the growth potential of the Kharghar micro-market. With this acquisition, the company aims to create a benchmark project that will set new standards in the real estate sector of Navi Mumbai.
As the project progresses, it is expected to generate significant economic activity and employment opportunities, contributing to the overall development of the region. Homebuyers and investors are looking forward to the new developments with great anticipation, as Godrej Properties has a reputation for delivering high-quality and innovative projects.
The acquisition of the 6.54 acres in Kharghar by Godrej Properties is a significant milestone in the company's growth strategy and a positive development for the real estate market in Navi Mumbai. With its focus on quality, sustainability, and community development, Godrej Properties is poised to make a lasting impact in the Kharghar micro-market and beyond.
Frequently Asked Questions
What is CIDCO and what is its role in Navi Mumbai?
CIDCO, or the City and Industrial Development Corporation, is the nodal agency responsible for the planning and development of Navi Mumbai. It organizes auctions and initiatives to attract investments and facilitate urban growth in the region.
How much land did Godrej Properties acquire in Kharghar?
Godrej Properties acquired 6.54 acres of land in the Kharghar micro-market of Navi Mumbai at the CIDCO auction.
Why is the Kharghar micro-market attractive for real estate developers?
The Kharghar micro-market is attractive for real estate developers due to its rapid urbanization, improved infrastructure, better connectivity, and growing demand for affordable and well-located homes.
What is Godrej Properties' strategy with this acquisition?
Godrej Properties' strategy with this acquisition is to strengthen its portfolio in key Indian real estate markets and to create a benchmark project that sets new standards in the sector of Navi Mumbai.
What social and environmental initiatives does Godrej Properties plan to undertake in Kharghar?
Godrej Properties plans to engage in various social and environmental programs to contribute positively to the local community and ensure that the new project benefits its residents and the surrounding areas.
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