Godrej Properties Expands Footprint with Major Land Acquisition in Ahmedabad

Godrej Properties Ltd has acquired 3 acres in Vastrapur, Ahmedabad for a premium housing project with potential sales of Rs 1,300 crore. This aligns with their strategy of expanding in key Indian cities. The firm's recent expansions include acquisitions in Mumbai MMR and significant new land additions.

Godrej Properties Ltd, a premier real estate firm, has significantly bolstered its presence in Ahmedabad by acquiring approximately 3 acres of land in Vastrapur. This acquisition is aimed at developing a high-end residential project with an estimated sales potential of Rs 1,300 crore.

The realty company, known for its strategic expansion, did not reveal the deal's financial details or the seller's name. However, the anticipated development will feature nearly 0.9 million square feet of saleable area, primarily for premium residential units, as per a regulatory filing.

Godrej's aggressive expansion is evidenced by recent successes in Mumbai's Metropolitan Region and an impressive performance last fiscal year, where it became the largest listed real estate firm by sale bookings. The company is on track with its plan to increase its presence in major Indian urban markets.

(With inputs from agencies.)