Mumbai-based real-estate developer Godrej Properties on July 16 announced its entry in Raipur with the acquisition of around 50 acres of land.
According to an official release, the development on this land will primarily comprise premium plotted residential units and will offer an estimated saleable area of around 9.5 lakh square feet.
“We are delighted to announce our entry into the dynamic city of Raipur. This acquisition marks another significant step in our expansion journey as we look to strengthen our presence in emerging real estate markets across India. Raipur, with its growing demand for residential plotted developments and strong infrastructure growth, presents an exciting opportunity,” said Gaurav Pandey, MD & CEO, Godrej Properties, in the release.
“This acquisition also aligns strategically with our focus on entering high-growth cities through plotted developments. We look forward to developing a quality plotted township that creates long-term value for its residents, aligned with the region’s evolving aspirations,” he further said.
The real estate developer said that the land is strategically located near Old Dhamtari Road, a rapidly growing real estate hub. This location provides good connectivity to Central Raipur, Raipur Railway Station, and Swami Vivekananda Airport.
According to Godrej Properties, the area is witnessing accelerated development backed by strong social infrastructure, including reputed educational institutions, healthcare, and retail facilities.
The developer is banking on major infrastructure upgrades, such as its integration with the Atal Path (Raipur–Naya Raipur Expressway) and proximity to the upcoming Raipur–Hyderabad and Raipur–Visakhapatnam expressways, saying that the location appeal is further enhanced for residential development.
Recently, Godrej Properties acquired a licensed land in Panipat for Rs 600 crore.
The land is spread over 40-acre and has a potential developable area of 3 million sq ft. and the company is expected to do plotted development.
On July 16, the share price of Godrej Properties closed at nearly 1 per cent hike.
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