Real estate developer Godrej Properties has acquired about 62 acres of land in Kurukshetra, Haryana, for the development of a residential project. The project will offer around 1.4 million square feet of plotted residential development, providing attractive plot sizes along with lifestyle amenities.

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The site is strategically located with access from National Highway 44, according to Godrej Properties.

Kurukshetra is a city with good infrastructure consisting of schools, colleges, hospitals and has significant historical and religious importance.

"Haryana has been a key market for us and we look forward to further strengthening our presence in Haryana with this project. We will aim to build an outstanding residential community that creates long-term value for its residents," Gaurav Pandey, MD and CEO Designate, Godrej Properties, said.

With this, the Mumbai-based developer has expanded its residential portfolio in the NCR region. Last week, the real estate player announced that it will develop a 14.27 acres land parcel for a residential project in Gurugram. The proposed development will have an estimated revenue potential of about Rs 3,000 crore.

The development will comprise predominantly of premium residential apartments.

Godrej Properties has also formed a joint venture with Neelkamal Realtors Tower Private Ltd. for development of a property in Mumbai. The project is being developed by the company through a Special Purpose Vehicle -- Godrej Residency Private Limited-- wherein the company will hold 50.01 percent and the balance 49.99 percent will be held by NRTPL. The Share Purchase Agreement was signed on December 24.

Shares of Godrej Properties ended 3.1 percent higher at Rs 1,209.