Godrej Properties buys 31-acre land in Indore for Rs 130 cr to build housing project

New Delhi, Nov 13 (PTI) Godrej Properties Ltd has bought 31-acre land in Indore for around Rs 130 crore to develop a project comprising residential plots, as part of its expansion plan amid strong demand.

     In a regulatory filing on Friday, the company informed that it has added a 31-acre land parcel on Indore-Ujjain Road, Indore.

     "The land is planned for a plotted residential development with an estimated saleable area of 0.7 million square feet," it said.

     Godrej Properties did not mention whether it bought the land outright or entered into a joint development agreement (JDA) with the landowner.

     However, sources said that the company has purchased this land for around Rs 130 crore.

     Godrej Properties said the acquisition would help expand its presence in Indore's property market.

     It already has two plotted developments in the city, Godrej Greenview Estate and Verdania Estate, and both are at an advanced stage of completion.

     Gaurav Pandey, MD & CEO of Godrej Properties, said, "Indore is one of India's most promising real estate markets, and we see significant long-term potential here."

     "This is our third project in the city and reflects our commitment to creating value for customers in high-growth markets, where demand for well-planned, branded plotted communities continues to rise," he added.

     Godrej Properties is one of the country's leading real estate developers. In terms of annual sales bookings, the company became the largest listed firm in the 2025-26 fiscal.

     For the current financial year, the company has set a sales bookings target of Rs 39,000 crore.

(This story has not been edited by THE WEEK and is auto-generated from PTI)