Nagpur: Billed as the biggest land deal in the history of Nagpur, the realty firm Godrej Properties has purchased 57.75 acres of land parcel at village Ghogli in Besa in Nagpur Rural Tehsil, for a record price of Rs 227.40 crore. Though the Godrej group company did not disclose the value of the land deal, it stated that the land parcel was acquired to develop a residential project as part of its strategy to expand business.
This is the second major deal by Godrej, as the company had purchased Model Mills land in 2008 for Rs 164 crore. A residential complex has come up at the site.
Gold Rate
05 May 2025
According to sources, the said property at Ghogli is adjacent to Podar International School. It is connected by Manewada-Besa-Ghogli 24-metre wide motorable road, with a frontage of around 200 metres. The said property measures 23.74 Hectares, equivalent to 2,37,400 sq mtrs. At the rate of over Rs 3.93 lakh per acre consideration, the total value of the said land deal is estimated to be Rs 227.40 crore. The buyer — Godrej Properties — shall make the payment in tranches to the 10 owners of the land. This is the highest value single sale deed, so far, in Nagpur district, said sources.
Sources said that the latest deal will have a bearing on the Ready Reckoner rates of the area. The Department of Registration will quote this sale deed as a ‘sale instance’ to effect an increase in Ready Reckoner rates the next year. For, the value of the land deal is believed to be above the Ready Reckoner rates for the area.
Godrej plans to develop a layout and sell plots of open land after getting the required sanctions from civic authorities on the Besa land. In a press release, Godrej Properties stated, “The project has good connectivity to Nagpur Airport and Nagpur-Hyderabad Highway with well-established social infrastructure in the vicinity. Nagpur has many prominent infrastructure projects like the Metro Rail project, IT and manufacturing facilities in MIHAN SEZ and Airport Cargo Hub, along with upcoming Samruddhi Mahamarg, which will further boost national connectivity and the related demand for quality residential units.”
