In Short:
Godrej Properties Limited (GPL) has acquired 90 acres of land in Khalapur, Maharashtra, just days after buying two plots in Greater Noida. This new site allows for 1.7 million square feet of residential development, aiming to enhance GPL’s expansion plans. The Greater Noida acquisition targets the growing Delhi-NCR market, while Khalapur focuses on the Mumbai metro area. CEO Gaurav Pandey highlighted the area’s potential for residential growth.
Godrej Properties Expands Footprint with New Land Acquisition
In exciting news for real estate enthusiasts, Godrej Properties Limited (GPL) has just announced the acquisition of a sprawling 90-acre land parcel in Khalapur, Maharashtra. This strategic move comes on the heels of their successful capture of two prime plots in Greater Noida via an e-auction just three days prior, showcasing their rapid growth in the real estate sector.
Development Plans in Khalapur
The newly acquired land in Khalapur is set to bolster GPL’s project portfolio, with plans to develop an impressive 1.7 million square feet of residential plots. This significant development reflects the company’s ongoing commitment to creating thriving communities.
Stock Update
As of Monday at 10:15 am, shares of Godrej Properties Limited were trading at ₹2,877.05, witnessing a slight decline of ₹48.65 (or 1.66%) on the NSE. While this fluctuation might catch some investors’ eyes, the company’s strategic acquisitions suggest a promising future.
Details of the Greater Noida Acquisition
Let’s not forget the exciting news from earlier: GPL secured a total of approximately 17.5 acres in Greater Noida with a hefty combined bid of ₹842 crore. This acquisition positions the company to harness the rapid growth of the Delhi-NCR market, thanks to its proximity to the bustling capitals of Delhi and Noida, along with the anticipated rise of the Jewar airport.
Insights from Leadership
The acquisition of land in Khalapur has drawn insights from Gaurav Pandey, MD & CEO of Godrej Properties. He stated, “Residential plotted development has gained significant traction in recent years. Khalapur is a promising upcoming location. Hence, following the excellent response to our last development, Godrej Hillview Estate, we aim to expand our presence in the region. We will aim to build an outstanding residential community that creates long-term value for its residents.”
This rapidly evolving landscape not only highlights Godrej Properties’ ambition but also points towards a flourishing future for homebuyers in these newly targeted regions. Stay tuned for more updates as GPL continues to shape the real estate market.
