Mumbai-based estate developer Godrej Properties announced its entry in Raipur after buying around 50 acres of land. According to a official launch, the development on this land include top class plotted residential structures and will provide a saleable area of around 9.5 lakh square feet.
Godrej Properties enters in Raipur Real Estate Market
“We are excited to announce our entry into the dynamic city of Raipur. This acquisition marks any other great step in our growth journey as we plan to boost presence in emerging real estate markets across India. Raipur, with its developing demand for for residential plots and strong infrastructure growth, offers a thrilling opportunity,” said Gaurav Pandey, MD & CEO, Godrej Properties, in the launch.
“This acquisition also aligns strategically with our focus on getting into high-growth towns through plotted developments. We look ahead to growing a best plotted township that creates long-term value for its residents,” he said.
Company Shares Rise by 2 % with 50 acres land investment in Raipur
On July 16, the share price of Godrej Properties closed at nearly a 2 % rise. The developer is banking on major infrastructure enhancements, together with its integration with the Atal Path (Raipur–Naya Raipur Expressway).
It has close proximity to the upcoming Raipur–Hyderabad and Raipur–Visakhapatnam expressways, announcing that the location appeal is more beneficial for residential development. Recently, Godrej Properties acquired authorised land in Panipat for Rs 600 crore. The land spread over 40-acre and has a potential developable region of 3 million sq.feet. The company is expected to do plotted development.
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