Godrej Properties forays into Raipur, acquires around 50 acres of land for a plotted development project

Godrej Properties Ltd has acquired around 50 acres of land for a plotted development, with an estimated saleable area of around 9.5 lakh square feet

Mumbai-based listed real estate developer Godrej Properties Ltd announced its entry into Raipur with the acquisition of around 50 acres of land for a plotted development, with an estimated saleable area of around 9.5 lakh square feet in Raipur, the company said on July 16.

Godrej Properties Ltd has acquired around 50 acres of land for a plotted development, with an estimated saleable area of around 9.5 lakh square feet (Representational photo) (Pixabay)

The development on this land will primarily comprise premium plotted residential units and will offer an estimated saleable area of around 9.5 lakh square feet, the company said in a regulatory filing.

Strategically located near Old Dhamtari Road, a rapidly growing real estate hub, the location is well connected to Central Raipur, Raipur Railway Station, and Swami Vivekananda Airport, the company said.

About the location

The area is also witnessing accelerated development backed by strong social infrastructure, including reputed educational institutions, healthcare, and retail facilities. With major infrastructure upgrades, such as its integration with the Atal Path (Raipur–Naya Raipur Expressway) and proximity to the upcoming Raipur–Hyderabad and Raipur–Visakhapatnam expressways, the location appeal is further enhanced for residential development, it said.

"We are delighted to announce our entry into the dynamic city of Raipur. This acquisition marks another significant step in our expansion journey as we look to strengthen our presence in emerging real estate markets across India. Raipur, with its growing demand for residential plotted developments and strong infrastructure growth, presents an exciting opportunity," said said Gaurav Pandey, MD and CEO, Godrej Properties.

"This acquisition also aligns strategically with our focus on entering high-growth cities through plotted developments. We look forward to developing a quality plotted township that creates long-term value for its residents, aligned with the region’s evolving aspirations,” he said.

JLL, the transaction adviser for the deal, declined to comment.