Shares of Godrej Properties Ltd are attracting attention after the company announced the signing of a joint development agreement (JDA) for an approximately 18-acre land parcel in Thane, within the Mumbai Metropolitan Region (MMR).

The transaction was disclosed in a regulatory filing dated 23 February 2026. While the identity of the landowner has not been revealed, the proposed development is estimated to have a revenue potential exceeding ₹7,500 crore, based on prevailing business projections.

Large-Scale Residential Development Planned

According to the company, the land parcel is suitable for a sizable integrated housing project. The development is expected to be primarily residential, leveraging the scale of the site to create a comprehensive community layout.

This marks Godrej Properties’ fourth project in Thane, reflecting its continued expansion strategy in high-demand micro-markets across the MMR. The company generally follows a blended growth model that includes outright land acquisitions as well as joint development partnerships with landowners.

The JDA structure allows developers to expand their portfolio while optimising capital allocation and reducing upfront land acquisition costs.

Strategic Location Advantage

The project site is situated in a well-established Thane micro-market, benefiting from both existing connectivity and upcoming infrastructure projects.

Key infrastructure developments influencing the region include:

• The Thane–Wadala Metro corridor
• The Thane–Borivali twin-tube tunnel project
• The proposed Thane Coastal Road
• The Mumbai–Ahmedabad Bullet Train corridor, which will feature a station in Thane
• Additional metro corridors planned across the Mumbai Metropolitan Region

Improved transport connectivity is expected to further enhance residential demand in Thane, particularly among working professionals commuting to Mumbai and nearby commercial hubs.

Thane’s Growing Residential Appeal

Thane has steadily evolved into a prominent residential destination within the MMR. Over the years, it has witnessed consistent housing demand supported by established social infrastructure such as schools, healthcare facilities, shopping centres, and recreational amenities.

The presence of integrated townships and mixed-use developments has further strengthened its position as a self-sustaining residential ecosystem.

By securing this 18-acre parcel, Godrej Properties aims to capitalise on Thane’s growth momentum and infrastructure-led expansion.

Summary

Godrej Properties has signed a joint development agreement for an 18-acre land parcel in Thane, with an estimated revenue potential exceeding ₹7,500 crore. The largely residential project will be the company’s fourth development in the area. Benefiting from strong connectivity through metro lines, tunnel projects, and upcoming infrastructure initiatives, the project aligns with Godrej Properties’ strategy of expanding through joint development partnerships in high-growth urban micro-markets.

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