Godrej Expands in Ahmedabad with New Premium Residential Project

Godrej Properties has acquired 3 acres in Vastrapur, Ahmedabad, for a premium residential project. The development will add 0.9 million square feet of saleable space, generating estimated bookings worth Rs 1,300 crore. The acquisition aligns with Godrej's aim to expand in key Indian real estate markets.

In a strategic move to enhance its footprint in key real estate markets, Godrej Properties (GPL) announced on Monday the acquisition of approximately 3 acres of prime land in Vastrapur, Ahmedabad. The company aims to develop roughly 0.9 million square feet of saleable area, focusing primarily on premium residential apartments.

With an anticipated booking value of Rs 1,300 crore, this project marks Godrej Properties' second venture in Ahmedabad, aligning with its strategy to deepen presence in major micro-markets across India. The move was described by MD & CEO Gaurav Pandey as a significant expansion of the company's presence in the region.

Vastrapur is a coveted address, housing eminent landmarks such as IIM Ahmedabad, Vastrapur Lake Garden, and Nexus Ahmedabad One Mall. The location boasts accessibility to top educational and healthcare facilities and is in close proximity to major business hubs like Navratna and Pinnacle Business Parks, emphasizing its appeal for modern living.

(With inputs from agencies.)