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<div class="single_page_content"> <p align="justify">Godrej Properties Ltd. (GPL), (BSE scrip id: GODREJPROP), one of India's leading real estate developers, today announced that it has entered into an agreement for outright purchase of a land parcel in the fast developing micro market of Manor, Palghar.<br><br>Spread across ~ 50 acres, the proposed project is estimated to have a developable potential of approximately 1.2 million square feet of saleable area comprising primarily of residential plotted development. The project will offer a booking value potential of approximately INR 500 crore*.<br><br>Manor, Palghar, Boisar, and Wada due to their popularity as famous weekend destinations of historic and religious significance have become popular investment micro-markets.<br><br>Manor is a self-sufficient town with good infrastructure consisting of numerous schools, colleges, hospitals, and marketplaces. The subject land parcel is in proximity to the Mumbai-Ahmedabad Highway which connects major cities of Maharashtra and Gujarat. The proposed Mumbai-Ahmedabad bullet train will also have its station close to Manor in Boisar.<br><br>Mohit Malhotra, MD & CEO, Godrej Properties, said, "Manor is a promising micro-market for plotted development and we are happy to add this project to our portfolio. Post-Covid demand for premium second homes has seen an uptick. This project will address that consumer segment and complements our strategy of deepening GPL's presence across residential micro markets."<br><br>*On the basis of the current business assumptions.</p> <p></p> <b></b> <b></b> <b></b> <b></b> <b></b> <b></b> <b></b> <b></b> <b></b> </div>
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