Godrej Properties acquired a 31-acre land parcel on Indore-Ujjain Road for plotted housing, marking its third project in the city.

The details reached the Bombay Stock Exchange on Friday, 13 November.

The land will be sold as residential plots of different sizes, with planned infrastructure, recreation spaces and amenities.

Total sellable space is estimated at around 0.7 million square feet.

In a plotted project, the company sells ready-to-build land instead of finished flats. Buyers then design their own homes.

Gaurav Pandey, managing director and chief executive, called Indore ‘one of India’s most promising real estate markets’.

He said the land lets Godrej build on the traction of projects already running in the city.

Godrej first entered Indore in July 2024 with about 46 acres off the same road.

In January 2025, it added about 24 acres near the Indore bypass, a project with revenue potential of around Rs 500 crore.

With the new plot, its three Indore sites now cover about 101 acres and roughly 2.48 million square feet of sellable space.

Its two earlier plotted projects in Indore, Godrej Greenview Estate and Verdania Estate, have drawn healthy buyer interest and are already far along towards completion, the company said in its statement.

The firm calls Indore-Ujjain Road a fast-growing residential belt. It links the airport, Ujjain and main commercial areas, and has schools and hospitals nearby.

The company also points to planned metro expansion and growth in the corporate and IT sectors. Land deals continue elsewhere too.

In June, the developer won an e-auction for 23.2 acres in Greater Noida for an apartment project with revenue potential above Rs 7,000 crore.

On 23 October, Godrej reported customer collections of Rs 5,318 crore for the September quarter, up 31% from a year earlier.

It has also lined up launches worth over Rs 32,000 crore for the second half of this financial year.

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