Godrej Properties Ltd has announced the acquisition of a roughly 46-acre land parcel in Indore. According to the company’s July 31 regulatory filing, the development on this land will mostly consist of plotted residential units and offer an estimated saleable area of roughly 1.16 million square feet.
Situated in a significant residential and commercial area of Indore, the land is close to the Indore-Ujjan Road, a major upcoming corridor planned to be expanded to a 6-lane highway.
According to a regulatory filing from the company, the location provides good connectivity to important landmarks like the Indore International Airport, the Indore Junction railway station, educational institutions, and medical infrastructure.
According to the report, the city’s residential real estate market has expanded due to ongoing infrastructure development, the planned extension of Metro lines, and the expansion of the corporate and IT sectors.
Declaring our arrival in Indore, Madhya Pradesh brings us immense pleasure. According to Godrej Properties’ MD and CEO Gaurav Pandey, “Residential plotted development has gained significant traction in recent years and the Indore-Ujjain Road is a promising micro-market to expand our presence in this space.”
This fits nicely with our current expansion strategy, which involves entering rapidly expanding cities from the standpoint of planned development. We want to develop an exceptional, sustainable community that benefits its citizens in the long run and capitalizes on Indore’s growth potential,” he stated.
The real estate sector is well-known in cities like Bengaluru, Pune, Mumbai Metropolitan Region (MMR), and Delhi-NCR (National Capital Region).
Godrej Properties was the largest listed real estate company in the most recent fiscal year, with sales bookings exceeding Rs 22,000 crore.
