Godrej's Rs 716 Crore Kharghar Land Grab

Godrej Properties has secured three contiguous land parcels on lease from the City and Industrial Development Corporation (CIDCO) in Kharghar, Navi Mumbai.

As per property registration records reviewed by Square Yards, the total land area spans 26,478 sq. mtrs., with a combined valuation of Rs 716.58 crore. The agreements, registered in March 2025, each required a Rs 30,000 registration fee and are valid for 60 years. The land is earmarked for mixed-use development, encompassing residential and commercial projects.

Kharghar, a meticulously planned locality by CIDCO, boasts excellent connectivity via the Mumbai-Pune Expressway, Sion-Panvel Highway, and the upcoming Navi Mumbai Metro. It also offers robust social infrastructure, featuring reputed schools, hospitals, and retail hubs. Additionally, the proposed International Corporate Park (ICP) in Kharghar is set to transform the area into a major business hub, enhancing its commercial viability with modern office spaces and amenities.

Commenting on the development, Anand Moorthy, Co-founder and CBO of Capital Market & Services at Square Yards, stated, “Navi Mumbai is experiencing a remarkable surge in real estate activity, driven by extensive infrastructure upgrades. The operational status of the Atal Setu and the imminent completion of the Navi Mumbai International Airport (NMIA) are key catalysts fueling demand for residential and commercial properties.”

News by Rahul Yelligetti.