Godrej Properties Ltd has secured a significant 53-acre land parcel in the burgeoning micro-market of Joka, Kolkata, marking its latest expansion in eastern India. The proposed project is estimated to offer a saleable area of approximately 1.3 mn sq ft, primarily focusing on residential plotted developments, with an anticipated revenue potential of Rs 500 crore.
Strategically located near Kolkata’s city center and close to Diamond Harbour, a popular weekend retreat, Joka has quickly emerged as a thriving residential hub. Infrastructure advancements, including the Kolkata Metro Line 3 and an extensive road network, have enhanced Joka’s connectivity to key city areas. The region also boasts amenities like the prestigious IIM-Calcutta, improved healthcare facilities, and growing commercial centers, making it an ideal location for residential development.
Commenting on the acquisition, Gaurav Pandey, MD & CEO, Godrej Properties, said, “This land acquisition fits with our strategy of deepening our presence across India’s leading cities. We will aim to build an outstanding plotted development project in Joka that creates long-term value for its residents.”
With this strategic move, Godrej Properties aims to further solidify its footprint in Kolkata, catering to the city’s growing demand for premium residential spaces.