Godrej Properties Ltd. (GPL), (BSE scrip id: GODREJPROP), one of India's leading real estate developers, today announced that it has acquired ~109 acres land parcel in Nagpur. The development on this land will comprise primarily plotted residential units and will offer an estimated saleable area of 2.2 million square feet.
The land parcel is strategically located near Samrudhhi Mahamarg, (the expressway connecting the cities of Mumbai & Nagpur) and MIHAN SEZ and offers good connectivity to the Mumbai - Kolkata highway and Dr. Babasaheb Ambedkar International Airport, Nagpur.
The location offers a well-developed social and municipal infrastructure, that includes hospitals, schools, retail, and entertainment venues.
Gaurav Pandey, MD & CEO, Godrej Properties, said, "We are happy to add this new project in Nagpur to our portfolio. This further enhances our presence in Nagpur and fits within our strategy of strengthening our presence across key micro-markets in India. We will aim to build an outstanding plotted development project in Nagpur that creates long-term value for its residents."
Shares of Godrej Properties Limited was last trading in BSE at Rs. 1536.60 as compared to the previous close of Rs. 1580.55. The total number of shares traded during the day was 13667 in over 1812 trades.
The stock hit an intraday high of Rs. 1597.95 and intraday low of 1533.00. The net turnover during the day was Rs. 21197916.00.