The 109-acre purchase by Godrej would change Nagpur's real estate market

Godrej Properties has purchased a land block in Nagpur, Maharashtra, totaling over 109 acres and 2.2 million sq. ft of saleable area. The land is located near the recently operationalized Samruddhi Mahamarg, the expressway connecting the cities of Mumbai and Nagpur and MIHAN Special Economic Zone (SEZ). This acquisition aligns with Godrej’s strategy to enhance its portfolio in the city as well as to strengthen its presence across key micro-markets in India. The location offers a well-developed social and municipal infrastructure, including hospitals, schools, retail, and entertainment venues. The real estate development arm of the Godrej Group is focusing on leveraging its brand and financial position to tap consolidation opportunities in the real estate segment through outright acquisitions, alliances, and joint development agreements for land parcels.

In April this year, the company acquired a land parcel extended over four acres near Koregaon Park, an upmarket residential area in Pune, to develop a luxury group housing project on this land parcel. Gaurav Pandey, MD & CEO, Godrej Properties, said, "We are happy to add this new project in Nagpur to our portfolio. This further enhances our presence in Nagpur and fits within our strategy of strengthening our presence across key micro-markets in India. We will aim to build an outstanding plotted development project in Nagpur that creates long-term value for its residents".