Godrej Properties Acquires Approx 53-acre of Land in Joka

News Desk, News Nation 360 : The property has approximately 1.3 million square feet of potential for residential plotted development. One of the top real estate developers in India, Godrej Properties Ltd. (GPL) (BSE s-crip id: GODREJPROP), recently declared that it has purchased a roughly 53-acre plot of land in Joka, Kolkata. Based on current business assumptions, the proposed project is anticipated to have a development potential of around 1.3 million square feet of saleable area, mostly consisting of residential planned development, with an estimated revenue potential of approximately INR 500 crore. The land's prime location is in Joka's rapidly growing micromarket, which is near the main city and Diamond Harbour, a popular weekend retreat by the sea. Gaurav Pandey, MD & CEO of Godrej Properties, stated that this land purchase aligns with their plan to increase their footprint in India's most important cities. Their goal is to construct a remarkable plotted development project in Joka that adds value for the locals over the long run. Joka has grown quickly as a result of improvements in Kolkata's infrastructure. Its IIM-Calcutta, cutting-edge medical facilities, and sizable shopping malls are its main draws. Additionally, it is easily accessible by the Kolkata Metro via Line 3 and has extensive road connectivity, making it a prime residential area.