Jan 12 - Indian automaker Maruti Suzuki's  said on Monday that its board approved the purchase of a land parcel in the western state of Gujarat, where it proposes to add up to 1 million units of production with a planned investment of about 49.6 billion rupees ($550.01 million). 

($1 = 90.1800 Indian rupees)

(Reporting by Mridula Kumar in Bengaluru; Editing by Nivedita Bhattacharjee)