BILKULONLINE
Mumbai, Oct 21: Godrej Properties Limited (GPL), one of India’s leading real estate developers, today announced that it has acquired ~3 acres of land in Vastrapur, Ahmedabad.
The development on this land is estimated to have a potential of ~0.9 million square feet of saleable area comprising primarily of premium residential apartments of various configurations with an estimated booking value of ~INR 1,300 crore*. This acquisition is in line with GPL’s strategy of developing high-quality residential projects across India’s leading real estate markets.
This land parcel is strategically located in Vastrapur, a premium residential locality in West Ahmedabad offering good social infrastructure and excellent connectivity to key areas of the city. The area is well-served by top schools and healthcare facilities. Renowned landmarks, including IIM Ahmedabad, Vastrapur Lake Garden, Sabarmati Riverfront Project, and Nexus Ahmedabad One Mall, further enhance its appeal. Additionally, Vastrapur’s proximity to business hubs like Navratna Business Park and Pinnacle Business Park makes it a prime location for residents seeking convenience, modern living, and accessibility.
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.”
* On the basis of the current business assumptions.