Godrej Properties acquires Raj Kapoor’s bungalow to develop luxury housing project in Mumbai
Godrej Properties now owns the home belonging to the late great actor, director, and producer Raj Kapoor in Mumbai’s Chembur neighbourhood. After purchasing the site from Kapoor’s heirs, Godrej Properties plans to build a luxury home community there, anticipating sales of about INR 500 crore. So far this fiscal year, the business has purchased around 15 plots of land with a combined sales potential of about INR 28,000 crore. They want to purchase even more property by March to construct other projects. Godrej Properties is a major player in the real estate markets in the Mumbai Metropolitan Area, the National Capital Region, Pune, and Bangalore.
Godrej Properties, a division of the Godrej Group, is a major player in the Indian real estate market. The MMR, Delhi-National Capital Region, Pune, and Bengaluru are all important markets for the organization. Godrej Properties has bought more than 15 plots of land this fiscal year with a projected 28,000 crore in sales to meet the rising demand for homes. Furthermore, the firm is planning to acquire additional property by the end of March to begin work on further development projects. Pirojsha Godrej, the company’s chairman and managing director, recently told PTI that the firm’s new business development would exceed rupees 30,000 crores in the 2022-23 financial year, more than double the yearly projection of 15,000 crore rupees.
