Godrej Properties Shares in Focus: Revealed Acquisition of ~24 Acres Land in Indore

On Jan 10, 2025, Godrej Properties shares fell ~3% and touched the day low of 2427.15 at 12:30 PM, after opening at 2500.00. The fall in Godrej Properties shares came after the company announced that it had acquired ~24 acres of land in Indore.

Godrej Properties Cementing Position in Indore

Godrej Properties Limited (GPL) in the exchange filing stated the development on this land will primarily comprise premium plotted residential units and will offer an estimated saleable area of ~6.20 lakh square feet. The acquisition of ~24 acres of land in Indore will be GPL’s second acquisition in Indore after acquiring 46 acres in July’2024 on Indore-Ujjain Road, which is bolstering its presence in Indore

Location of Newly Acquired Land

Situated just off the bustling Indore bypass road, a rapidly expanding real estate hotspot, the land offers excellent connectivity to key areas such as Dewas and Palda. The area is well-linked through major junctions, including Chhatrapati Shivaji Square and other prominent city nodes.

It is home to prestigious institutions, leading hospitals like CHL Hospital, popular leisure destinations such as Phoenix Inside Mall, and hotels like Sheraton. Its closeness to IT hubs like Crystal IT Park and Software Technology Parks of India further boosts employment prospects, making it an ideal location for residential development.

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