Godrej Properties Acquires 46-Acre Land in Indore for Housing Plots

Godrej Properties Ltd has acquired 46 acres of land in Indore, investing around Rs 200 crore to develop housing plots. This project is part of the company's expansion strategy to meet strong consumer demand. The development will feature plotted residential units with an estimated saleable area of 1.16 million square feet.

Godrej Properties Ltd on Wednesday announced its acquisition of 46 acres of land in Indore, valued at approximately Rs 200 crore. This move is part of the company's broader expansion strategy aimed at capitalizing on strong consumer demand for housing plots.

The new development will predominantly consist of plotted residential units, covering an estimated saleable area of about 1.16 million square feet, according to a regulatory filing by the company.

Gaurav Pandey, MD & CEO of Godrej Properties, revealed that this acquisition marks the company's first foray into Indore, Madhya Pradesh. 'Residential plotted development has gained significant traction in recent years, and the Indore-Ujjain Road is a promising micro-market to expand our presence in this space,' he stated.

(With inputs from agencies.)