Godrej Properties Ltd has made a significant move by announcing its acquisition of a substantial land parcel spanning approximately 46 acres in Indore. As per the company’s regulatory filing dated July 31, this land will primarily be utilized for developing plotted residential units, which is projected to encompass an estimated saleable area of around 1.16 million square feet.
Located within a prominent residential and commercial hub of Indore, this land parcel enjoys proximity to the Indore-Ujjain Road, a major upcoming corridor that is planned for expansion into a 6-lane highway.
The regulatory filing from the company also highlighted that this strategic location offers excellent connectivity to key landmarks, including the Indore International Airport, Indore Junction railway station, various educational institutions, and essential medical infrastructure.
Reports indicate that the residential real estate sector in the city has witnessed significant growth, fueled by ongoing infrastructure improvements, the prospective extension of Metro lines, and the burgeoning corporate and IT sectors.
Expressing enthusiasm about entering the Indore market, Gaurav Pandey, Managing Director and CEO of Godrej Properties, noted, "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 further added, "This aligns perfectly with our current expansion strategy, which focuses on entering rapidly growing cities from a planned development perspective. Our aim is to create an exceptional, sustainable community that serves the needs of its residents in the long term and leverages Indore’s growth potential."
The real estate landscape is notably vibrant in urban centers such as Bengaluru, Pune, Mumbai Metropolitan Region (MMR), and Delhi-NCR (National Capital Region). Godrej Properties stands out as the largest listed real estate firm from the previous fiscal year, boasting sales bookings exceeding Rs 22,000 crore.