A 24-acre land piece in Indore with an estimated ₹500 crore in revenue potential is purchased by Godrej Properties
By Bricksnwall | 2025-01-10
Premium planned residential units would make up the
majority of the development on this area, according to Godrej Properties Ltd.
On January 10, Godrej Properties Ltd. declared that
it had purchased 24 acres of land in Indore. Premium planned residential units
will make up the majority of the construction on this property, which has an
estimated 6.20 lakh square feet of saleable space.
After purchasing 46 acres on the Indore-Ujjain Road
in July 2024, this will be GPL's second purchase in Indore. GPL will therefore
increase its visibility throughout the city.
The entire cost of the land piece was not disclosed
by the firm.
"The project will have an estimated revenue
potential of around ₹500 crore," a statement from Godrej Properties
stated.
Location and current infrastructure
The site is conveniently close to important
neighborhoods like Dewas and Palda and is situated right off the popular Indore
bypass road, a fast expanding real estate market.
Major intersections like Chhatrapati Shivaji Square
and other important city nodes provide easy access to the area. It has
well-known establishments, premier medical facilities including CHL Hospital,
entertainment venues like Phoenix Inside Mall, and lodging options like
Sheraton. According to the organization, being close to IT hotspots like
Software Technology Parks of India and Crystal IT Park improves job prospects
and makes it a great place to live.
We are pleased to increase our footprint in Indore
and fortify our position in this dynamic city. The Indore bypass route offers
us a good chance to grow as residential plotted constructions get up steam. Our
goal of using planned developments to reach high-growth locations is in line
with this acquisition. Our goal is to create a vibrant, sustainable community
that takes advantage of Indore's enormous growth potential while also providing
long-term value to its citizens, stated Gaurav Pandey, MD and CEO of Godrej
Properties.
One of the top developers in the nation is Godrej
Properties. It is widely distributed in Bengaluru, Hyderabad, Pune, the Mumbai
Metropolitan Region (MMR), and Delhi-NCR.
Godrej Properties buys land entirely and collaborates with landowners on joint development projects in order to grow its housing industry.
Source: Hindustan Times
