Godrej Eyes Development Opportunities on 1,000 Acres Valued at INR 1 Lakh Crore

Nearly a third of Godrej's extensive 3,000-acre land holdings, which have been part of the family assets since the early 1940s after acquisitions through government auctions and subsequent plot purchases, is poised for development.

Although a significant portion of the area is covered with protected mangroves, about 1,000 acres are free for development, with an estimated value of Rs 1 lakh crore.

A 2015 survey by the state's Slum Rehabilitation Authority revealed that nine private landowners and trusts control approximately 6,600 acres in Mumbai, spanning from Colaba to Dahisar in the west and extending to Mulund in the east. Among these, the FE Dinshaw Trust, under the stewardship of Wadia Group chairman Nusli Wadia, owns 683 acres in Malad, while the Pratap Singh Surji Vallabhdas family holds 647 acres in Bhandup.

According to the terms of the Godrej family settlement, both family branches are entitled to use the Godrej brand for a range of real estate activities, from project design and development to marketing and facilities management. Nevertheless, the settlement constrains G&B from acquiring new land for residential developments but permits land purchases for internal needs, such as establishing manufacturing facilities.

G&B will focus on utilizing its existing land reserves for residential projects, including territories outside Vikhroli where it will manage all aspects of development and sales. GPL, another entity within the Godrej group with a market capitalization of Rs 73,641 crore, is barred from construction or marketing activities in these designated areas.

As part of the settlement, G&B will remain unlisted and under the exclusive ownership of Jamshyd and Smita Godrej.