Godrej Properties Acquires 40-Acre Land in Panipat for Rs 600 Crore
Godrej Properties has acquired a 40-acre land parcel in Panipat, Haryana, for approximately Rs 600 crore. This move highlights the company's strategic expansion into Tier II cities, driven by the growing real estate demand in emerging urban centers.
Godrej PropertiesReal EstatePanipat Land DealTier Ii CitiesShare PriceReal EstateJun 30, 2025
Shares of Godrej Properties are set to be in focus on Monday after the real estate developer acquired a 40-acre land parcel in Panipat, Haryana, for approximately Rs 600 crore. This marks the company's eleventh new project announcement in FY25.
The licensed land, offering a potential developable area of 3 million square feet, was acquired amid a wave of renewed developer interest in India’s Tier II cities. Two people familiar with the matter told The Economic Times about the transaction. CBRE, which advised on the deal, declined to comment.
This latest move underscores Godrej Properties’ broader strategy to tap into the evolving real estate demand in emerging urban centres. The company has been particularly active in Haryana. In October 2024, Godrej Properties emerged as the highest bidder for a luxury group housing plot on Golf Course Road in Gurugram with a revenue potential of Rs 5,500 crore. The acquisition was made via an e-auction conducted by the Haryana Shehri Vikas Pradhikaran (HSVP).
Earlier in FY24, the company had also acquired two parcels measuring 5.15 acres and 2.76 acres in the same micro-market, also via HSVP auctions. Despite these aggressive expansion moves, shares of Godrej Properties have seen significant volatility. The stock has declined 26.4% over the past year and is down 16.6% in the last six months. However, it has rebounded 11% over the past three months and gained 5.5% in the past month.
From a technical standpoint, the stock is trading below four of its eight key simple moving averages, including the 5-day, 10-day, 20-day, and 200-day SMAs, while holding above the 30-day, 50-day, 100-day, and 150-day SMAs. The Relative Strength Index (RSI) currently stands at 51.9, suggesting neutral momentum. The Moving Average Convergence Divergence (MACD) is at 43.0, remaining above its center line but below the signal line—indicating a potential shift in short-term momentum.
Godrej Properties’ latest acquisition reflects the growing appeal of Tier II cities, which are seeing increased traction from developers, corporates, financial institutions, and investors. The surge in interest is being driven by the relatively low cost of land, ongoing infrastructure development, and robust housing demand. This has resulted in a rise in premium and luxury housing projects, both from established players and new entrants, as these cities emerge as the next hubs of growth and employment in India.
Frequently Asked Questions
What is the significance of the Panipat land deal for Godrej Properties?
The Panipat land deal is significant as it marks Godrej Properties' strategic expansion into Tier II cities, driven by the growing real estate demand in emerging urban centers. It also highlights the company's commitment to tapping into new markets with potential for high growth.
How has the stock performance of Godrej Properties been in recent months?
Despite aggressive expansion, shares of Godrej Properties have seen significant volatility. The stock has declined 26.4% over the past year and is down 16.6% in the last six months. However, it has rebounded 11% over the past three months and gained 5.5% in the past month.
What is the potential developable area of the acquired land in Panipat?
The acquired land in Panipat offers a potential developable area of 3 million square feet, making it a significant addition to Godrej Properties' portfolio.
What factors are driving the interest in Tier II cities for real estate development?
The interest in Tier II cities is driven by the relatively low cost of land, ongoing infrastructure development, and robust housing demand. These factors make Tier II cities attractive for both established players and new entrants in the real estate market.
What other significant land acquisitions has Godrej Properties made in Haryana?
In October 2024, Godrej Properties emerged as the highest bidder for a luxury group housing plot on Golf Course Road in Gurugram with a revenue potential of Rs 5,500 crore. Earlier in FY24, the company also acquired two parcels measuring 5.15 acres and 2.76 acres in the same micro-market.
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