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Godrej Properties to develop a 33-acre project in Bengaluru

Godrej Properties to develop a 33-acre project in Bengaluru

This project would offer approximately 1 million sq ft of plotted residential development, the company said in a statement.

Godrej Properties to develop a 33-acre project in Bengaluru Godrej Properties to develop a 33-acre project in Bengaluru

Real estate developer Godrej Properties Ltd (GPL), today announced that it has entered into an agreement to develop a 33-acre land parcel in the residential micro-market of Bannerghatta Road in South Bengaluru.

The agreement is for an outright purchase with 5 per cent area share to the landowners.

The company in its official statement mentioned that the site is in close proximity to several other key hubs of the city and offers an extremely well-developed social and civic infrastructure with multiple schools, hospitals, retail, residential, and commercial spaces in close proximity.

Mohit Malhotra, MD & CEO, Godrej Properties, said, “Bannerghatta Road is an important micro - market within Bengaluru and we are happy to add this land parcel to our portfolio. This will further expand our presence in South Bengaluru and fits with our strategy of deepening our presence in key micro markets across India's leading cities.”

Godrej Properties had recently purchased around 50 acres of land in Haryana’s Sonipat. This project would offer approximately 1 million sq ft of plotted residential development, the company said in a statement.

Godrej Properties has planned to invest approximately Rs 7,500 crore over the next 12-18 months on acquisition and development of new real estate projects. It has a major presence in the Mumbai region, Pune, Delhi-NCR and Bengaluru. In FY 2021, Godrej Properties emerged as the largest developer in India by the value and volume of residential sales achieved.

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