July 31, 2024: Godrej Properties Ltd. (GPL) has acquired a 46-acre land parcel in Indore. According to the official statement, the development on this land will primarily comprise plotted residential units and will offer an estimated saleable area of 1.16 million square foot (msf).
The land is located just off Indore-Ujjain Road, an upcoming corridor of Indore slated to be widened to a six-lane highway and an important residential and commercial area in the city. The location offers connectivity to key landmarks such as the Indore International Airport, Indore Junction Railway Station, educational institutes and medical infrastructure.
The proposed expansion of Metro lines, the growth of corporate and IT sectors and ongoing infrastructure development have further contributed to the growth of the residential real estate market in the city.
Gaurav Pandey, MD & CEO, Godrej Properties, said, “Residential plotted development has gained significant traction in recent years and the Indore-Ujjain Road is a promising micro-market. This aligns well with our ongoing growth strategy of entering fast-growing cities from a plotted development perspective.”
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