Godrej Properties Acquires 3 Acres of Prime Land in Ahmedabad for ₹1,300 Crore Residential Project

Godrej Properties Limited (GPL) has announced the acquisition of approximately 3 acres of land in Vastrapur, a prominent residential area in West Ahmedabad. The company plans to develop a premium residential project on the site, with an estimated booking value of ₹1,300 crore based on current business assumptions.

Godrej Properties acquires 3 acres of land in Vastrapur, Ahmedabad, for a new residential project

Project Details and Strategic Significance

The development will span around 0.9 million square feet of saleable area, primarily consisting of high-quality residential apartments with various configurations. The acquisition aligns with GPL's broader strategy of expanding its presence in India's major real estate markets by developing top-tier residential projects.

The company emphasized that the land parcel's strategic location in Vastrapur provides an advantage due to the area’s robust social infrastructure and excellent connectivity to key parts of Ahmedabad. The project aims to cater to the growing demand for premium residential housing in the city, offering modern amenities and a desirable lifestyle.

Strengthening Presence in Ahmedabad

This acquisition marks Godrej Properties' second project in Ahmedabad, following the ongoing development of 'Celeste at Godrej Garden City,' which is set to be completed by March 2027. Gaurav Pandey, Managing Director and CEO of Godrej Properties, expressed enthusiasm about the new venture, stating, "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."

Expanding Across Major Markets

The acquisition in Ahmedabad is part of Godrej Properties' broader expansion plans across India's key real estate markets. Recently, the company emerged as the highest bidder for three adjoining plots in Kharghar, Mumbai Metropolitan Region (MMR), with a combined revenue potential of ₹3,500 crore. The Kharghar land, spanning 6.54 acres, will offer a development potential of about 2 million square feet, comprising premium residential apartments.

Future Outlook

With its latest acquisitions in Ahmedabad and MMR, Godrej Properties is actively enhancing its portfolio to meet the rising demand for quality housing in India's major urban centers. The company’s strategic land acquisitions and ongoing projects reflect its commitment to delivering high-quality residential developments that cater to evolving customer needs and preferences.

Conclusion

Godrej Properties' latest land acquisition in Vastrapur, Ahmedabad, for a ₹1,300 crore residential project highlights its strategic focus on expanding into high-potential markets. By adding this new development to its portfolio, the company continues to strengthen its position as a leading player in India's real estate sector.