Godrej Properties Ltd (GPL), a leading Indian real estate developer, has issued a correction to its recent press release regarding a significant land acquisition in Vadodara, Gujarat. The company has clarified that the estimated saleable area for the project is approximately 9 lakh square feet, not 0.9 lakh square feet as initially reported due to a typographical error.

Vadodara Expansion

The Mumbai-based developer has acquired approximately 34 acres of land on Ajwa Road, Vadodara, marking its entry into the city's real estate market. This strategic move represents Godrej Properties' second land acquisition in Gujarat within the past year, following a 3-acre acquisition in Vastrapur, Ahmedabad.

Project Details

The development on this newly acquired land will primarily comprise premium plotted residential units. Located in a rapidly growing real estate corridor, the project is set to benefit from:

• Excellent connectivity to key city landmarks
• Proximity to major commercial hubs
• Easy access to renowned educational institutions and leisure attractions
• Close proximity to Vadodara Airport and the city center

Strategic Expansion

Gaurav Pandey, MD & CEO of Godrej Properties, commented on the acquisition: "We are happy to announce our entry into the vibrant city of Vadodara. Reinforcing our commitment to the state and confidence in the market potential, this acquisition aligns strategically with our focus on entering high-growth cities through plotted developments."

Company Performance

The LODR data reveals that Godrej Properties has maintained its position as India's largest developer by the value of residential sales achieved, repeating its performance from the previous fiscal year.

Recognition and Sustainability

Godrej Properties has received numerous accolades in recent years, including:

• Developer of the Year at the GRI India Awards
• The Porter Prize
• The Most Trusted Real Estate Brand in the Brand Trust Report
• Builder of the Year at the CNBC-Awaaz Real Estate Awards

Additionally, the Global Real Estate Sustainability Benchmark ranked GPL #1 globally amongst listed residential developers for its sustainability and governance practices for three consecutive years.

This latest land acquisition in Vadodara underscores Godrej Properties' commitment to expanding its presence in high-growth markets and its focus on sustainable, premium residential developments.

Godrej Properties Ltd. (GPL), a leading Indian real estate developer, has announced its entry into the Vadodara market with the acquisition of approximately 34 acres of land. This strategic move marks the company's second land acquisition in Gujarat within a year, following a 3-acre purchase in Vastrapur, Ahmedabad.

Project Details

The newly acquired land, located on Ajwa Road in Vadodara, is slated for a premium plotted residential development. Key highlights of the project include:

• Estimated saleable area of approximately 0.90 lakh square feet
• Focus on premium plotted residential units
• Strategic location in a rapidly growing real estate corridor

Strategic Location

The land's location on Ajwa Road offers several advantages:

• Excellent connectivity to key city landmarks
• Proximity to commercial hubs and significant nodes of Vadodara
• Close to renowned educational institutions and leisure attractions
• Easy access to Vadodara Airport and the city center

Market Strategy and Growth

Gaurav Pandey, MD & CEO of Godrej Properties, commented on the acquisition: "We are happy to announce our entry into the vibrant city of Vadodara. This acquisition aligns strategically with our focus on entering high-growth cities through plotted developments. Our goal is to create a sustainable and thriving community that delivers long-term value to residents while leveraging Vadodara's immense growth potential."

The move into Vadodara reflects Godrej Properties' confidence in the market potential and its commitment to expanding its presence in Gujarat. The company aims to capitalize on the growing demand for residential plotted developments in the region.

Company Performance

Godrej Properties has maintained its position as India's largest developer by the value of residential sales achieved, repeating its performance from the previous fiscal year.

Recognition and Awards

Godrej Properties has received numerous accolades in recent years, including:

• Developer of the Year at the GRI India Awards
• The Porter Prize
• The Most Trusted Real Estate Brand in the Brand Trust Report
• Builder of the Year at the CNBC-Awaaz Real Estate Awards
• The Economic Times Best Real Estate Brand

This latest land acquisition in Vadodara further solidifies Godrej Properties' position as a key player in India's real estate market, demonstrating its commitment to growth and sustainable development across diverse locations.