Godrej Properties, venture in Indore by acquiring a 46-acre land parcel. It is a plotted development with an approximately saleable area of nearly 1.16 million square feet. The company disclosed this information in the regulatory filling, dated 31st July.
The acquired land is bang on Indore-Ujjain road, which will witness a boom in property prices. It is a location marked for the development of a 6-lane highway and is going to have a thriving residential and commercial hub.
Godrej Properties in the regulatory filling further said that it is a strategic location with seamless connectivity. It aligns swift travel to Indore International Airport. Also, several landmark destinations like educational institutions and healthcare facilities are nearby.
Also, with the expansion of metro lines and corporate sectors, infrastructure development will be on a high. Thus, it will contribute largely to the real estate sector.
Gaurav Pandey, MD and CEO, Godrej Properties said, “We are happy to announce our entry in 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 further said, “This aligns well with our ongoing growth strategy of entering fast-growing cities from a plotted development perspective. We will aim to build an outstanding sustainable community that delivers long-term value to its residents and taps into Indore’s growth potential.” Godrej Properties is a reputed name in Delhi-NCR, Mumbai Metropolitan Region (MMR), Pune, and Bangalore. In the last year, the company was the largest listed real estate firm for sales bookings by selling immovable assets for worth Rs. 22,000 crore.
