The land parcel can be developed into real estate worth up to Rs 100,000 crore — taking into account the per square feet price in Godrej’s Vikhroli complex.
The Godrej group
was set up by Ardeshir Godrej in 1897 who started his journey by selling locks along with his brother Pirojsha. While Ardeshir Godrej had no children, Pirojsha’s sons Burjor, Sohrab, and Naval managed the group.
The group is now run by Burjor’s sons Adi, and Nadir, and Naval’s son, Jamshyd.
The next generation of the family has also joined the group across various companies.
The land parcel was acquired by the Godrej family
in early 1940s from the Bombay High Court receiver. It was originally given by the East India Company to a Parsi merchant, Framjee Banaji, in 1830s and came up for sale in 1941-42.
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