Godrej Properties (GPL), one of India's leading real estate developers, today announced the addition of a new project in Ghodbunder Road, Thane.

Spread across 4 acres, this project will offer approximately 65,000 square meters (approximately 0. 7 million square feet) of saleable area comprising mainly of modem residential apartments of various configurations.

The site is strategically located on the main Ghodbunder Road and offers an extremely well developed social and civic infrastructure with multiple schools, hospitals, retail malls and residential and commercial spaces in close proximity.

This deal is an outright purchase of land along with Godrej Fund Management.

Pirojsha Godrej, Executive Chairman, Godrej Properties said, "We are happy to add this new project in Thane, which strengthens our development portfolio in Mumbai and fits with our strategy of deepening our presence in key markets across India's leading cities. We will seek to ensure this project delivers an outstanding lifestyle for its residents."

Shares of the company gained Rs 2.5, or 0.44%, to trade at Rs 576.95. The total volume of shares traded was 35,290 at the BSE (10.01 a.m., Wednesday).