Godrej Properties has acquired three contiguous land parcels on lease from City and Industrial Development Corporation (CIDCO) in Kharghar, Navi Mumbai.

According to IGR property registration documents reviewed by Square Yards, the total land area spans 26,478 sq. mtrs., valued at Rs 716.58 crore. The agreements, registered in March 2025, each required a Rs 30,000 registration fee and have a tenure of 60 years. The land is designated for mixed-use development, including residential and commercial purposes.

Kharghar, a well-planned locality developed by CIDCO, offers excellent connectivity via the Mumbai-Pune Expressway, Sion-Panvel Highway, and the upcoming Navi Mumbai Metro. The area also boasts strong social infrastructure, with prominent schools, hospitals, and retail centres. The proposed International Corporate Park (ICP) in Kharghar is set to transform the region into a key business hub with modern office spaces and amenities, enhancing its commercial appeal.

Co-founder and CBO of Capital Market & Services at Square Yards, Anand Moorthy, commented, “Navi Mumbai is currently witnessing a significant surge in real estate activity, largely attributed to extensive infrastructure upgrades in the region. The operational status of the Atal Setu and the impending completion of the Navi Mumbai International Airport (NMIA) are pivotal factors driving this increased demand for residential and commercial properties.”