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<keyword id="45432" type="General" weightage="80" keywordseo="godrej-properties" source="Orion">Godrej Properties</keyword> Ltd on Friday said it has acquired legendary film actor, director, and producer <keyword id="6358412" type="General" weightage="80" keywordseo="raj-kapoor" source="Orion">Raj Kapoor</keyword>'s Bungalow at Chembur in <keyword id="6358070" type="General" weightage="50" keywordseo="mumbai" source="Orion">Mumbai</keyword> to develop a luxury housing project. The land was purchased from the <keyword id="53" type="General" weightage="100" keywordseo="kapoor" source="Orion">Kapoor</keyword> family, legal heirs of Raj Kapoor, the company said in a regulatory filing. The deal value has not been disclosed. The site is located at Deonar Farm Road, Chembur, Mumbai, adjacent to <keyword id="6356045" type="General" weightage="50" keywordseo="tata-institute-of-social-sciences" source="Orion">Tata Institute of Social Sciences</keyword> (TISS). In May 2019, Godrej Properties had acquired R K Studios in Chembur from the Kapoor family to develop a premium mixed-use project Godrej RKS. The project is expected to be delivered this year. Gaurav Pandey, MD and CEO, Godrej Properties, said, "We are pleased to add this iconic project to our portfolio and are grateful to the Kapoor family for entrusting us with this opportunity." The demand for premium developments has been strong over the past few years, he said. This project will allow us to further strengthen our presence in Chembur, Pandey said. <keyword id="1562" type="General" weightage="50" keywordseo="randhir-kapoor" source="Orion">Randhir Kapoor</keyword> said, "This residential property in Chembur has been of great emotional and historical significance to our family. We are happy to once again associate with Godrej Properties to take forward this rich legacy for the next phase of development for this location," Godrej Properties, which is part of the business conglomerate <keyword id="133008" type="General" weightage="50" keywordseo="godrej-group" source="Orion">Godrej Group</keyword>, is one of the leading real estate developers in the country. It has a significant presence in Mumbai Metropolitan Region (MMR), Delhi-NCR, <keyword id="2094" type="General" weightage="50" keywordseo="pune" source="Orion">Pune</keyword> and Bengaluru. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/indigo-plans-flights-to-nairobi-jakarta-some-central-asian-destinations-ceo-pieter-elbers/articleshow/98000625.cms">IndiGo plans flights to Nairobi, Jakarta, some central Asian destinations: CEO Pieter Elbers</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sustainability/news/fashion-industry-needs-to-move-further-and-faster-to-meet-1-5c-target-prove-they-care-about-real-change-un-expert/articleshow/97987975.cms">Fashion industry needs to move "further" and "faster" to meet 1.5°C target, prove they care about real change: UN expert</a>

Godrej Properties acquires Raj Kapoor's Bungalow in Mumbai

It’s no news that Bollywood stars are rich people. But how they use their riches is indeed newsworthy. One of their favourite uses to put their hard earned moolah is to invest in property. These star investors have put their money on everything ranging from retail projects, restaurants to sports franchises. Since they love holidaying in exotic foreign locales, most of them have invested in property abroad. Here’s a dekko at these astute investors:
 

	1.Shah Rukh Khan

	Though the actor claims that his luxury holiday home on The Palm Jumeirah in Dubai is a gift, but news is rife that it is his payment for endorsing Palm Jumeirah. Spread over two levels of sprawling 8500 square feet and 14000 square feet plots, the Signature Villa has a worth of Rs 17.84 crore. The villa comes with its own pool and a private beach, where Khan family loves to have a blast. King Khan also owns an apartment in central London’s posh park lane worth about £20 million.
 

	2.Amitabh Bachchan Besides owning five houses in Mumbai, Big B also has a house in <keyword id="106" type="COMPANY" weightage="80" keywordseo="Paris">Paris</keyword>. According to reports, the house was gifted to him by dear wife <keyword id="6354745" type="PERSON" weightage="60" keywordseo="jaya-bachchan">Jaya Bachchan</keyword> as the mega star has always been fascinated by the fashion capital. 

	3.Abhishek Bachchan and Aishwarya Rai Bachchan While Big B is going to Paris, Beta B and Bahu B have acquired a plush property in <keyword id="2484630" type="UNKNOWN" weightage="20" keywordseo="Dubais-Jumeirahs-Golf-Estates">Dubai’s Jumeirah’s Golf Estates</keyword>. The area of resort style villa in Sanctuary Falls ranges between 5600 square feet to 10,600 square feet, while the price ranges from 15 to 35 million UAE Dirhams. Each villa comes with landscape gardens and a resort style swimming pool. 

	4.John Abraham Model turned actor John Abraham is an astute businessman too. The actor owns a home in exclusive area of Bel Air, <keyword id="6354803" type="COMPANY" weightage="80" keywordseo="Los-Angeles">Los Angeles</keyword>, USA. His neighbours include the likes of Jennifer Anniston and <keyword id="3540" type="PERSON" weightage="80" keywordseo="Angelina-Jolie">Angelina Jolie</keyword>. 

	5.Shilpa Shetty Kundra The actress turned business woman was gifted an apartment in Dubai’s <keyword id="92239" type="ORGANIZATION" weightage="80" keywordseo="Burj-Khalifa">Burj Khalifa</keyword>, the world’s tallest building. The couple is also a proud owner of a seven-bedroom property called ‘<keyword id="247105" type="PERSON" weightage="80" keywordseo="Raj-Mahal">Raj Mahal</keyword>’ in Weybridge, Surrey and property in Meyfair as well as in Oxford Street of London. 

	6.Akshay Kumar

	Khiladi Kumar is yet another star who loves to invest in property. He considers Canada as his second home; hence, he has bought not an apartment but an entire hill in Toronto apart from a couple of posh apartments and a bungalow. That’s not all, Akshay also owns a beautiful bungalow on a famous Mauritian beach.
 

	7.Saif Ali Khan and Kareena Kapoor

	The royal couple love to holiday at Gstaad, Switzerland. Whenever they get a chance they fly off the beautiful destination. Hence, the couple has bought themselves a chalet in Gstaad.

Realty Check: Bollywood Stars Who Have Bought Property Abroad

Enthused by strong housing demand, realty firm Godrej Properties Ltd has acquired 18 land parcels last fiscal for development of new projects with an estimated sales potential of around Rs 32,000 crore. Mumbai-based Godrej Properties, which is part of business conglomerate <keyword id="133008" type="General" weightage="20" keywordseo="godrej-group" source="Orion">Godrej Group</keyword>, had given a guidance that for future development it would add land parcels that have sales revenue potential of Rs 15,000 crore. However, the company's new business development, which means addition of new land parcels, jumped more than two-fold of annual guidance. Godrej Properties acquires land outrightly and also enters into joint development agreements (JDAs) with landowners to create a pipeline of future projects and expand its business. In a recent regulatory filing, the company presented its operational performance for 2022-23. Godrej Properties highlighted that it has added "18 new projects in FY23 with a total estimated saleable area of nearly 29 million square feet and total estimated booking value of around Rs 32,000 crore." In the fourth quarter of last fiscal, five new projects were added with an expected sales booking value of Rs 5,750 crore. Among big-ticket deals in FY23, the company acquired an 18-acre land parcel in Kandivali, Mumbai for Rs 750 crore to develop a luxury housing project with an estimated revenue potential of about Rs 7,000 crore. It also acquired legendary film actor, director and producer Raj Kapoor's bungalow at Chembur in Mumbai to develop a luxury housing project. In February last year, Godrej Properties Executive Chairman Pirojsha Godrej had said that the company would invest around Rs 7,500 crore over the next 12-18 months on the acquisition and development of new real estate projects. Sitting on a huge cash pile, Godrej Properties entered aggressively into the market to acquire land parcels. In the last fiscal, it purchased more land outrightly than signing JDAs with landowners. On operational front, Godrej Properties' sales booking rose 56 per cent last fiscal to Rs 12,232 crore -- an all-time high -- on strong demand for residential properties. Pirojsha Godrej attributed the strong growth in FY23 to its strong portfolio of projects across the country. For the first time, the company sold over Rs 2,000 crore of real estate in each of four focus markets of Mumbai Metropolitan Region (MMR), Delhi-NCR, Bengaluru and Pune. Out of the total sales bookings last fiscal, housing segment's contribution was 99 per cent. Pirojsha said the company look forward to building on this sales momentum in FY24. During 2022-23, sales volumes grew by 40 per cent to 15.21 million square feet from 10.84 million square feet in the previous year. The company delivered projects aggregating over 10 million sq ft across 5 cities in FY23. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/zepto-preps-for-public-listing-in-2-years-brings-in-ramesh-bafna-as-cfo-to-lead-ipo-process/articleshow/99514143.cms">Zepto preps for public listing in 2 years; Brings in Ramesh Bafna as CFO to lead IPO process</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/rbis-mpc-decisively-in-a-rate-pause-territory-as-inflation-cools-down/articleshow/99497132.cms">RBI's MPC 'decisively' in a rate-pause mode as inflation cools down</a>

Godrej Properties acquires 18 land parcels in FY23 to build new projects with Rs 32,000-cr sales potential

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Godrej Properties acquires Raj Kapoor's Bungalow in Mumbai

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Realty Check: Bollywood Stars Who Have Bought Property Abroad

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Godrej Properties acquires 18 land parcels in FY23 to build new projects with Rs 32,000-cr sales potential

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