Godrej Properties Acquires 3 Acres in Ahmedabad for Premium Residential Project

On October 21, 2024, Godrej Properties Limited (GPL) announced the acquisition of approximately 3 acres of prime land in Vastrapur, Ahmedabad. 

This land will be developed into a premium residential project, offering around 0.9 million square feet of saleable area, with various apartment configurations. The estimated booking value for the project is approximately ₹1,300 crore. The acquisition aligns with GPL’s strategy of developing high-quality residential projects in key real estate markets across India.

Vastrapur, located in West Ahmedabad, is known for its upscale residential environment and offers excellent social infrastructure. The area is well-connected to major parts of the city and is served by top schools, healthcare facilities, and retail spaces, making it a sought-after locality for homebuyers. Notable landmarks such as IIM Ahmedabad, Vastrapur Lake Garden, Sabarmati Riverfront, and Nexus Ahmedabad One Mall further enhance the area’s attractiveness.

Moreover, Vastrapur’s proximity to key business hubs like Navratna Business Park and Pinnacle Business Park makes it a convenient and ideal location for modern living. Residents will benefit from easy access to workspaces and essential amenities, providing a perfect balance of comfort, convenience, and connectivity.

This acquisition reinforces Godrej Properties’ commitment to expanding its presence in leading real estate markets, offering premium residential solutions to homebuyers across India.

Commenting on this significant acquisition, the MD and CEO of Godrej Properties, Gaurav Pandey, said, “We are happy to add our second project in Ahmedabad. This will further strengthen our presence in Ahmedabad and complement our strategy of deepening our presence in key micro-markets across India’s leading cities.” 

On October 21, 2024, Godrej Properties share price opened at ₹3,151.05, touching the day’s high at ₹3,175.80, as of 9:59 AM on the NSE.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.