India, Sept. 28 -- Godrej Properties Ltd has entered into a development agreement for a 2.5-acre prime land parcel in Marine Lines, South Mumbai, where it plans to develop a luxury housing project with an estimated revenue potential of around Rs.6,000 crore, the company said in a regulatory filing on September 28.

Marine Lines is characterised by limited land availability, a rich heritage, an established neighbourhood fabric, and a strategic location along Mumbai's iconic coastline. Owing to its connectivity to the city's premier business, cultural, and lifestyle hubs, particularly through the Coastal Road, the area continues to attract strong demand from end-users and affluent buyers, the company said in a statement.

The encouraging re...