Godrej Properties on Tuesday said it has bought about 15-acre land in Bengaluru to develop a housing project. In a regulatory filing, the company said "it has entered into an outright transaction to purchase a well-located land parcel in Sarjapur, Bengaluru".
Godrej Properties, which is part of the business conglomerate Godrej Group, did not disclose the deal value as well as the name of the seller. Spread across approximately 15 acres, this project will offer around 1.6 million square feet of potential saleable area comprising of residential apartments of various configurations.
Pirojsha Godrej, Executive Chairman, Godrej Properties said, "Bengaluru is a key market for us and this project addition fits well with our strategy of deepening our presence across the country's leading real estate markets.