Godrej Properties has taken 3 acres of land in Vastrapur, Ahmedabad and will build premium residential apartments.

New Delhi : Godrej Properties, emerging as the largest developer in India by value of residential sales, on Monday announced the acquisition of about 3 acres of land in Vastrapur, Ahmedabad. Premium residential apartments are expected to be built at the project worth over Rs 1,300 crore, the company informed the exchanges in a filing.

The information being provided by the company states that it plans to develop approximately 0.9 million square feet of salable area on this land, which mainly includes premium residential apartments in various configurations. The project is expected to generate an estimated booking value of Rs 1,300 crore. The company also said that the acquisition is in line with its ongoing strategy to develop high-quality residential projects in key real estate markets across India.

Gaurav Pandey, MD and CEO, Godrej Properties, said, “We are delighted to add our second project in Ahmedabad. This will further strengthen our presence in Ahmedabad and complement our strategy to deepen our presence in key micro markets across major cities in India.”

Vastrapur also has famous landmarks like the Indian Institute of Management (IIM) Ahmedabad, Vastrapur Lake Garden, Sabarmati Riverfront Project and Nexus Ahmedabad One Mall. “The area is brimming with top schools and healthcare facilities,” the company said in a statement. Famous landmarks like IIM Ahmedabad, Vastrapur Lake Garden, Sabarmati Riverfront Project and Nexus Ahmedabad One Mall further add to its appeal.”

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Additionally, Vastrapur's proximity to major business hubs such as Navratna Business Park and Pinnacle Business Park makes it a prime location for those seeking convenience and modern living. The company also said that in FY2024, Godrej Properties emerged as the largest developer in India by value of residential sales. Therefore, the company has intensified preparations to work on its new projects.

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