Residential properties are selling at upwards of Rs 30,000 per sq ft in Godrej's projects in the vicinity. About 100 million sq ft of real estate could be developed on the land owned by Godrej & Boyce, according to estimates from industry experts. Of the 3,400 acres owned by Godrej & Boyce in Vikhroli, about 1,000 acres can be developed while 1,750 acres has mangroves and cannot be developed because of environmental concerns. The balance 300 acres has been encroached upon. Over to industry. The Adi and Nadir Godrej family and trusts have made an open offer to acquire an additional 26% stake in Astec Lifesciences, as part of the family settlement. The open offer for Astec Lifesciences is for up to 5.09 million shares for Rs 1,069.75 per share, totaling Rs 545.47 crore. The open offer, on full acceptance, will cost Rs 545 crore to the Adi/Nadir family, said a regulatory update.