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Indian real estate firm Godrej buys land in Navi Mumbai for $94.4M, plan mixed-use development.
Godrej Properties, an Indian real estate developer, has bought three connected land plots in Kharghar, Navi Mumbai, for about $94.4 million.
The 6.54-acre land is leased for 60 years and will be used for a mixed-use project, including residential and commercial spaces.
This purchase reflects Godrej's confidence in Navi Mumbai's growth, driven by infrastructure improvements and the upcoming Navi Mumbai International Airport.
The project has an estimated revenue potential of around ₹3,500 crore.
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La empresa india de bienes raíces Godrej compra terrenos en Navi Mumbai por $94.4M, planea desarrollo de uso mixto.