Godrej Properties acquires a 16-acre land parcel in Bengaluru
The area at which the land is located is one of the most preferred residential locations in Bengaluru.
Godrej Properties Ltd., a real estate company headquartered in Mumbai announced today that it has acquired a 16 acres land parcel in Sarjapur, Bengaluru for the development of a mid-income project.
This land is strategically located in the fastest developing micro-market of Sarjapur and has an estimated developable potential of approximately 1.5 million square feet saleable area, which mostly comprises residential apartments of various configurations.
The area at which the land is located is one of the most preferred residential locations in Bengaluru. It is well connected to the IT/ITES belt at Bellandur on the outer ring road and several key hubs of the city. Located near the Sarjapur main road, this land parcel offers a very well-developed social and civic infrastructure with multiple schools, hospitals, retail, residential, and commercial spaces in close proximity.
Commenting on this development, Mohit Malhotra, MD and CEO, Godrej Properties, said that this acquisition will further expand the company’s presence in Bengaluru and complement their strategy of deepening the presence in key micro markets across India's leading cities.
At noon, the share price of Godrej Properties Ltd was trading at Rs 2,133.7, a decline of 4.74 per cent from the previous day’s closing price of Rs 2239.85 on BSE.