April 17, 2010
Godrej Group to Release Prime Land in Vikhroli
Godrej Group, recognized as Mumbai's largest landowner, is set to release a prime 35-acre parcel in Vikhroli by the end of this year. This could be one of the most significant offerings of unencumbered real estate entering the market in recent years.
Industrial Plots in Eastern Suburbs
Over the past decade, most large industrial plots sold to developers in the eastern suburbs have ranged between 5 and 20 acres. The impending release by Godrej Group represents a substantial increase in available land.
Preserved Mangrove Park
The Group controls approximately 4,000 acres in Vikhroli, a significant portion of which consists of a well-preserved mangrove sprawl. Environmentalists have hailed this area as Mumbai's best-preserved mangrove park.
Mixed-Use Development Plans
On Tuesday, Pirojsha Godrej, the executive director of Godrej Properties, revealed to the Times of India that a comprehensive plan is being developed for mixed-use development. This ambitious project is being designed by renowned architect Cesar Pelli.
Significance of the Plan
The plan signifies a major move in the real estate market, potentially transforming the landscape of Vikhroli and offering new opportunities for both residential and commercial development.