Godrej Properties has reached an agreement to acquire approximately 7.44 acres of land in Kolkata’s New Alipore from the West Bengal Housing Infrastructure Development Corporation. The luxury housing project has a developable potential of approximately 9.8 lakh sq ft with an estimated revenue potential of about INR 1,200 crore based on the current business assumptions. Furthermore, developers have acquired 2,181 acres of land worth more than INR 26,000 crore in the last 17 months, according to JLL India data. At 11:40 a.m., Godrej Properties shares were trading 4.7% higher at INR 1,578 on the BSE.
