Noida Real Estate Market Sees Property Prices Double in Five Years
Noida Real Estate Market Sees Property Prices Double in Five
Read MoreGodrej Properties Ltd (GPL), a leading real estate firm, has acquired a 3-acre land parcel in Vastrapur, Ahmedabad. The project has a significant development potential of 0.9 million square feet of saleable area, predominantly premium residential apartments. Based on current business assumptions, the estimated booking value for the project is around ₹1,300 crore, making it a key addition to GPL's portfolio.
In a stock exchange filing, the company confirmed, “The development on this land is estimated to have a potential of around 0.9 million square feet of saleable area consisting primarily of residential apartments of various configurations with an estimated booking value of ₹1,300 crore.”
This acquisition aligns with Godrej Properties’ strategy of expanding its presence in India’s leading real estate markets by developing high-quality residential projects. The Vastrapur area, located in West Ahmedabad, is known for its well-established social infrastructure and excellent connectivity to key areas in the city, further enhancing the value of this project. Renowned landmarks such as IIM Ahmedabad, Vastrapur Lake Garden, Sabarmati Riverfront Project, and Nexus Ahmedabad One Mall are in proximity, making the location attractive for prospective residents.
Gaurav Pandey, MD and CEO of Godrej Properties expressed confidence in the project, 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.” Pandey also highlighted Vastrapur’s proximity to business hubs such as Navratna Business Park and Pinnacle Business Park, making it a prime residential location for individuals seeking convenience, modern living, and accessibility.
This acquisition follows closely on the heels of another significant announcement. On October 16, GPL emerged as the highest bidder to develop a group housing project in Kharghar, Navi Mumbai, through the City and Industrial Development Corporation of Maharashtra’s (CIDCO) e-auction portal.
With this latest development in Ahmedabad, Godrej Properties continues to assert its presence in key markets, delivering premium residential projects across the country.
In a stock exchange filing, the company confirmed, “The development on this land is estimated to have a potential of around 0.9 million square feet of saleable area consisting primarily of residential apartments of various configurations with an estimated booking value of ₹1,300 crore.”
This acquisition aligns with Godrej Properties’ strategy of expanding its presence in India’s leading real estate markets by developing high-quality residential projects. The Vastrapur area, located in West Ahmedabad, is known for its well-established social infrastructure and excellent connectivity to key areas in the city, further enhancing the value of this project. Renowned landmarks such as IIM Ahmedabad, Vastrapur Lake Garden, Sabarmati Riverfront Project, and Nexus Ahmedabad One Mall are in proximity, making the location attractive for prospective residents.
Gaurav Pandey, MD and CEO of Godrej Properties expressed confidence in the project, 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.” Pandey also highlighted Vastrapur’s proximity to business hubs such as Navratna Business Park and Pinnacle Business Park, making it a prime residential location for individuals seeking convenience, modern living, and accessibility.
This acquisition follows closely on the heels of another significant announcement. On October 16, GPL emerged as the highest bidder to develop a group housing project in Kharghar, Navi Mumbai, through the City and Industrial Development Corporation of Maharashtra’s (CIDCO) e-auction portal.
With this latest development in Ahmedabad, Godrej Properties continues to assert its presence in key markets, delivering premium residential projects across the country.
