Nagpur, Nov. 21 -- Godrej Properties has purchased a 75-acre land parcel in Nagpur, Maharashtra, where it plans to launch a residential project expected to generate around Rs 755 crore in revenue.
This marks the company's third land acquisition in Nagpur in the last four years. The planned development will primarily consist of residential plotted units.
In a regulatory disclosure issued today, the developer said that with this latest acquisition, it has exceeded its annual new-business development target of Rs 20,000 crore for the current financial year.
In the real estate sector, new-business development typically refers to securing land parcels, either through direct purchases or partnerships for future projects.
The upcoming Nagpur p...