Real estate developer Godrej Properties on January 10 announced that it has acquired 24 acres of land in Indore, with a saleable area of 6.20 lakh square feet. The land will be used to primarily develop “premium plotted residential units”, the company said in a press release. Notably, this is Godrej Properties’ second acquisition in Indore. It had earlier acquired 46 acres of land on the Indore-Ujjain road in July 2024.
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Speaking about its latest acquisition, the company said: “Located just off prime Indore bypass road, a rapidly growing real estate hub, the land is connected to key areas like Dewas and Palda with excellent infrastructure. The area boasts seamless connectivity via major junctions like Chhatrapati Shivaji Square and other major nodes of the city. It features renowned institutions, top hospitals like CHL Hospital, leisure attractions such as Phoenix Inside Mall, and hotels like Sheraton. Proximity to IT hubs like Crystal IT Park and Software Technology Parks of India enhances employment opportunities, making it an ideal residential destination.”
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Godrej Properties MD & CEO Gaurav Pandey said, “With residential plotted developments gaining momentum, the Indore bypass road presents a promising opportunity for us to expand. This acquisition strategically aligns with our focus on entering high-growth cities through plotted developments. We will aim to build a sustainable, thriving community that not only delivers long-term value to residents but also capitalizes on Indore’s tremendous growth potential.”
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Shares of Godrej Properties were trading flat on January 10. After opening 0.13% higher than previous close at Rs 2,500, the shares were trading at around Rs 2,473 at the time of writing.
