Godrej Properties Acquires Land for a Residential Project in Ahmedabad

Mumbai / October 21, 2024: Godrej Properties Limited (GPL) acquired about three acres of land in Vastrapur, Ahmedabad. The development on this land is estimated to have a potential of about 0.9 million square feet of saleable area comprising primarily of premium residential apartments of various configurations with an estimated booking value of about Rs 1,300 crore (On the basis of the current business assumptions). This acquisition is in line with GPL’s strategy of developing high-quality residential projects across India’s leading real estate markets, a statement from the company said. 

This land parcel is strategically located in Vastrapur, an upmarket residential locality in West Ahmedabad offering good social infrastructure and excellent connectivity to key areas of the city. The area offers convenient access to top schools, healthcare facilities, and important landmarks such as IIM Ahmedabad, Vastrapur Lake Garden, Sabarmati Riverfront Project, and Nexus Ahmedabad One Mall. Its proximity to business hubs like Navratna Business Park and Pinnacle Business Park makes it a desirable location for those seeking a combination of modern living and accessibility, the statement added.

Gaurav Pandey, MD & CEO, Godrej Properties 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.”

x