Godrej Properties to acquire two plots in Navi Mumbai for Rs 166 cr

New Delhi: Mumbai-based Godrej Properties Ltd will acquire two adjacent plots in Navi Mumbai for Rs 166 crore.

These plots, measuring about 1.5 acre together, will offer around 400,000 square feet of development potential. The company intends to come up with a housing project offering premium residential apartments of different sizes. There will also be some retail space in the project. 

The company emerged as the highest bidder for the plots conducted by CIDCO through e-auctioning. The plots are in Sanpada locality, the company said in a statement. 

“This project will strengthen our development portfolio in MMR,” said Pirojsha Godrej, Cxecutive Chairman, Godrej Properties.