Godrej Properties Secures Land in Kharghar, Navi Mumbai for INR 716.58 Cr

In a major real estate move, Godrej Properties has acquired three contiguous land parcels in Kharghar, Navi Mumbai on lease from the City and Industrial Development Corporation (CIDCO). This acquisition strengthens Godrej Properties' presence in one of Mumbai’s fastest-growing real estate markets.

Details of the INR 716.58 Cr Deal

According to IGR property registration documents reviewed by Square Yards, the total land area spans 26,478 sq. mtrs. and is valued at INR 716.58 crore. The agreements were officially registered in March 2025, with each lease requiring a registration fee of INR 30,000. The tenure for the lease is 60 years, and the land is earmarked for a mixed-use development comprising both residential and commercial projects.

Kharghar: A Thriving Real Estate Destination

Kharghar is a well-planned locality developed by CIDCO, offering excellent connectivity through major arterial roads like the Mumbai-Pune Expressway and Sion-Panvel Highway. Additionally, the upcoming Navi Mumbai Metro will further enhance transport infrastructure, making Kharghar even more accessible for businesses and residents alike.

Upcoming Corporate & Infrastructure Developments

A key factor boosting Kharghar’s real estate appeal is the proposed International Corporate Park (ICP), which is set to transform the region into a business hub with modern office spaces, premium amenities, and commercial complexes. Alongside this, major infrastructure projects like the Atal Setu (Mumbai Trans Harbour Link) and the much-anticipated Navi Mumbai International Airport (NMIA) are driving strong demand for both residential and commercial properties.

Market Insights & Growing Investment Potential

Anand Moorthy, Co-founder and CBO of Capital Market & Services at Square Yards, emphasized the surging real estate activity in Navi Mumbai. He attributed this boom to extensive infrastructure upgrades in the region. With improved connectivity, premium residential projects, and expanding commercial hubs, Godrej Properties’ latest acquisition is well-positioned to capitalize on the area’s rising property demand.

Key Highlights of Godrej Properties’ Kharghar Land Deal:

• INR 716.58 crore investment for 26,478 sq. mtrs. of prime land.
• Three contiguous land parcels acquired on 60-year lease from CIDCO.
• Land designated for mixed-use development, including residential and commercial projects.
• Kharghar offers excellent connectivity via the Mumbai-Pune Expressway, Sion-Panvel Highway, and Navi Mumbai Metro.
• International Corporate Park (ICP) set to transform Kharghar into a major business hub.
• Atal Setu and Navi Mumbai International Airport (NMIA) to further boost demand for properties.
• Navi Mumbai experiencing a real estate boom due to large-scale infrastructure development.

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