Godrej Properties purchases a 24-acre land parcel in Indore for Rs. 500 crores

On January 10, Godrej Properties announced its acquisition of a 24-acre land parcel in Indore, marking a significant expansion in the city.

The planned development will feature premium plotted residential units, offering an estimated saleable area of approximately 6.20 lakh square feet. This marks GPL's second acquisition in Indore, following its acquisition of 46 acres in July 2024 on Indore-Ujjain Road, further solidifying its presence in the growing real estate market of Indore.

The company did not disclose the total cost of the new land acquisition but indicated that the project has a projected revenue potential of around Rs. 500 crores.

Located along the prime Indore bypass road, the land benefits from excellent connectivity to major city areas like Dewas and Palda.

The site is also conveniently accessible via key city junctions such as Chhatrapati Shivaji Square, and is in proximity to vital infrastructure including top hospitals like CHL Hospital, leisure destinations such as Phoenix Inside Mall, and luxury hotels like Sheraton.

Additionally, the area’s proximity to IT hubs like Crystal IT Park and the Software Technology Parks of India enhances employment opportunities, positioning it as an ideal residential area.

Gaurav Pandey, MD and CEO of Godrej Properties, stated, “We are excited to expand our footprint in Indore, leveraging the city’s growth potential. This acquisition aligns with our strategy of entering high-growth cities through plotted developments, and we aim to create a sustainable community that offers long-term value for residents.”