Godrej Properties Ltd (GPL) has acquired approximately 3 acres of land in Vastrapur, Ahmedabad to develop premium residential apartments with an estimated booking value of ₹1,300 crore.
The shares of Godrej Properties ,Ltd (GPL) were trading at ₹3,149.15, up by ₹15.50 or 0.49 per cent, on the NSE today at 11.40 am.
The project, located in West Ahmedabad’s upscale Vastrapur area, is expected to offer 0.9 million square feet of saleable area. The site’s strategic location provides access to key institutions including IIM Ahmedabad, healthcare facilities, and commercial hubs like Navratna Business Park.
This marks GPL’s second project in Ahmedabad, furthering its expansion in major Indian real estate markets. The development will benefit from proximity to landmarks such as Vastrapur Lake Garden, Sabarmati Riverfront Project, and Nexus Ahmedabad One Mall.
“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,” said Gaurav Pandey, MD & CEO of Godrej Properties.
GPL, which emerged as India’s largest developer by residential sales value in FY 2024, recently received the Developer of the Year award at the GRI India Awards, 2024.