Godrej Properties Expands Footprint with Strategic Land Acquisitions

Leading real estate developer Godrej Properties Ltd has made significant strides in its expansion strategy by acquiring a 48-acre land parcel in Bengaluru. This latest acquisition is part of the company's strategic move to sell housing plots, with the development potential reported to be around 1.1 million square feet.

In a recent disclosure, Godrej Properties announced the outright purchase of land in Doddaballapur, North Bengaluru. This marks one of many recent acquisitions by the company, as it aims to increase its presence in Tier-II cities by developing residential plots.

In further steps towards expansion, Godrej Properties acquired a 50-acre land parcel in Raipur for housing plots, leading to a projected saleable area of approximately 9.5 lakh square feet. Earlier acquisitions include a 43-acre land purchase in Panipat, Haryana, anticipated to generate over Rs 1,250 crore through plot sales. The company's focus on residential development extends across key cities like Delhi-NCR, Mumbai, Pune, and Hyderabad, with fiscal strategies projected to generate revenue potential of around Rs 26,500 crore in 2024-25.

(With inputs from agencies.)