India, Nov. 13 -- Mumbai-based, listed developer Godrej Properties announced on November 13 that it acquired a 31-acre land parcel on the Indore-Ujjain Road in Indore. The company acquired the land for plotted residential development, which has an estimated saleable area of 0.7 million square feet.

The proposed development will offer residential plots of varying sizes, supported by planned infrastructure, recreational spaces and premium amenities, the company said in the statement.

According to the company, the transaction strengthens GPL's presence in Indore and expands its footprint in the micromarket. The company already has two plotted developments in the city, namely Godrej Greenview Estate and Verdania Estate, both of which have w...