Godrej Properties Acquires 109 Acre Land Parcel in Nagpur in a Strategic Move

Godrej Properties Ltd (GPL), a leading name in India's real estate sector, has strategically acquired a substantial land parcel spanning approximately 109 acres in the burgeoning city of Nagpur, as disclosed in a regulatory filing.

The development envisioned on this expansive tract primarily encompasses residential plots, projecting an estimated saleable area of a whopping 2.2 million square feet.

This land is strategically nestled close to Samrudhhi Mahamarg, a vital motorway linking Mumbai and Nagpur, and MIHAN SEZ, offering unparalleled access to the Mumbai-Kolkata highway and Dr. Babasaheb Ambedkar International Airport in Nagpur.

The locale is enriched with a robust social and municipal infrastructure, including medical facilities, educational institutions, retail outlets, and entertainment hubs, rendering it a prime choice for residential development.

Gaurav Pandey, the MD & CEO of Godrej Properties, expressed his contentment over this new venture in Nagpur, stating,

Impact on Nagpur real estate:

Nagpur, being a prominent city, has been witnessing substantial developments, and the strategic location of this land near Samrudhhi Mahamarg and MIHAN SEZ is likely to augment its value significantly.

Samrudhhi Mahamarg is a crucial connector between Mumbai and Nagpur, enhancing the connectivity and accessibility of the region, which is pivotal for real estate valuation. Proximity to MIHAN SEZ, a major Special Economic Zone, implies potential economic activities and employment opportunities in the vicinity, which traditionally leads to increased demand in the residential real estate sector.

The robust infrastructure, including hospitals, schools, and retail establishments, further accentuates the attractiveness of this locale for residential developments. This acquisition by Godrej Properties is poised to leverage these locational advantages, potentially leading to high demand and value appreciation for the developed residential plots, contributing to the overall growth and development of the real estate landscape in Nagpur.