Godrej Properties buys land in Bengaluru for high-end residential project
Realty firm Godrej Properties on Monday said it has acquired a 7-acre land in Bengaluru to develop a luxury housing project with an estimated revenue of Rs 1,200 crore.
In a regulatory filing, the company informed about the acquisition of around 7 acres of land in Thanisandra, North Bengaluru on an outright basis.
The development on this land will comprise a high-end residential project featuring premium residential apartments of various configurations.
The proposed project is estimated to have a developable potential of about 9 lakh square feet with a revenue potential of around Rs 1,200 crore, the company said.
Gaurav Pandey, MD & CEO, Godrej Properties, said, the availability of land parcels and infrastructure development has turned Bengaluru into a mature real estate market with increased demand for residential development.
"North Bengaluru is an important market for us, and we are happy to add this land parcel to our portfolio. This will further strengthen our presence in ...