Godrej Properties expects to generate a sales revenue of Rs 1,200 crore from the south Calcutta land parcel it acquired from West Bengal Housing Infrastructure Development Corporation Ltd.

The plot, located near Tollygunj Phari on B.L. Saha Road, is spread over 7.44 acre. Godrej was the top bidder offering around Rs 230 crore for the land parcel which previously belonged to a nowdefunct state public sector unit.

Godrej Properties says it will develop this land parcel as a luxury group housing project.

“The project will have a develop-able potential of approximately 9.8 lakh square feet with an estimated revenue potential of approximately Rs 1,200 crore,” the company said.

This is the second luxury project of the company in Calcutta and fourth altogether. The transaction further strengthens the company’s pan-India footprint.