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Godrej Properties expands presence in Indore, acquires 31-acre land parcel for plotted development
Indore real estate: Godrej Properties said that it has acquired 31-acre land parcel on Indore-Ujjain Road, and the company plans to offer residents plots
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Mumbai-based, listed developer Godrej Properties announced on November 13 that it acquired a 31-acre land parcel on the Indore-Ujjain Road in Indore. The company acquired the land for plotted residential development, which has an estimated saleable area of 0.7 million square feet.
The proposed development will offer residential plots of varying sizes, supported by planned infrastructure, recreational spaces and premium amenities, the company said in the statement.
According to the company, the transaction strengthens GPL’s presence in Indore and expands its footprint in the micromarket. The company already has two plotted developments in the city, namely Godrej Greenview Estate and Verdania Estate, both of which have witnessed strong customer demand and are at an advanced stage of completion.
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“Indore is one of India’s most promising real estate markets, and we see significant long-term potential here. Located on Indore-Ujjain Road, the land gives us the opportunity to create a thoughtfully planned community and build on the momentum of our existing projects. This is our third project in the city and reflects our commitment to creating value for customers in high-growth markets, where demand for well-planned, branded plotted communities continues to rise," said Gaurav Pandey, MD and CEO, Godrej Properties.
According to the company statement, Indore-Ujjain Road remains one of the city’s fastest-growing residential corridors, offering easy access to Indore International Airport, Ujjain city and key commercial centres, along with well-established schools and hospitals.
"The planned expansion of the metro network, the growth of the corporate and IT sector and continued infrastructure development have strengthened Indore’s residential market. Within this market, demand for plotted homes has risen steadily as buyers seek more space and the freedom to design their own homes." the company statement said.
