One of the top real estate developers in India, Godrej Properties Ltd. (GPL) (BSE scrip id: GODREJPROP), announced it had purchased a roughly 53-acre plot of property in Joka, Kolkata.

With an estimated revenue potential of over INR 500 crore, the planned project is expected to have a development potential of approximately 1.3 million square feet of saleable space, principally consisting of residential plotted development.

The site is advantageously positioned in the fast-developing micro-market of Joka, which is near the major city and in proximity to Diamond Harbour, a well-known beachfront weekend destination.

Thanks to the expansion of its facilities, Joka has quickly become one of Kolkata’s most promising residential areas. Joka provides people with convenience and a high standard of living thanks to IIM-Calcutta, a landmark in education, improved healthcare facilities, and commercial centers. Joka is well-connected to important locations throughout the city thanks to the substantial road networks and strategic linkage provided by Kolkata Metro’s Line 3.

“This land acquisition fits with our strategy of deepening our presence across India’s leading cities. Our goal is to construct a remarkable plotted development project in Joka that adds value for its inhabitants over the long run” said Gaurav Pandey, MD & CEO, Godrej Properties.

A great initiative.

Priyanka Dutta