by THO
Godrej Properties Ltd. announced on January 10 that it had acquired 24 acres of land in Indore. The development on this land will primarily comprise premium plotted residential units and offer an estimated saleable area of around 6.20 lakh square feet.
This will be GPL’s second acquisition in Indore, following the acquisition of 46 acres in July 2024 on Indore-Ujjain Road. Thus, GPL will strengthen its presence in the city.
The company did not divulge the total cost of the land parcel.
“The project will have an estimated revenue potential of around ₹500 crore,” Godrej Properties said in a statement.
Location and existing infrastructure
Located just off prime Indore bypass road, a rapidly growing real estate hub, the land is well connected to key areas like Dewas and Palda.
The area boasts seamless connectivity via major junctions like Chhatrapati Shivaji Square and other significant city nodes. It features renowned institutions, top hospitals like CHL Hospital, leisure attractions like Phoenix Inside Mall, and hotels like Sheraton. The company said that proximity to IT hubs like Crystal IT Park and Software Technology Parks of India enhances employment opportunities, making it an ideal residential destination.
“We are happy to expand our presence in Indore, further strengthening our presence in this vibrant city. With residential plotted developments gaining momentum, the Indore bypass road presents a promising opportunity for us to expand. This acquisition 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,” said Gaurav Pandey, MD and CEO of Godrej Properties.
Godrej Properties is one of the country’s leading developers. It has a major presence in Delhi-NCR, the Mumbai Metropolitan Region (MMR), Pune, Hyderabad, and Bengaluru.
To expand its housing business, Godrej Properties acquires land through outright purchases and forms partnerships with landowners for joint development.
