Godrej Properties, a real estate developer, has purchased a 30-acre plot of land in South Bengaluru with the intention of developing a township for approximately Rs 3,500 crore.
Key Highlights
- Godrej Properties acquires 30 acres in South Bengaluru to develop township worth ₹3,500 cr.
- A 3.8-acre land buy unlocks ₹2,400 cr additional revenue and 2 million sq ft potential.
In October, the business purchased a 26-acre plot of property in Sarjapur, Bengaluru, with plans to build a housing complex worth Rs 1,100 crore.
In a regulatory statement on Thursday, the business announced that it had purchased an additional 3.8-acre land block, resulting in Rs 2,400 crore of new revenue and 2 million sq ft of further development potential.
With this acquisition, Godrej Properties Ltd intends to build a big, luxury residential complex.
The total gross development value of this 30-acre township would be Rs 3,500 crore. The entire development potential is three million square feet.
"The increased potential is largely due to higher FSI permissibility across the entire land parcel, allowing the combined 30 acres to be master planned as an integrated group housing development township," Godrej Properties stated.
Also Read: Godrej Properties Sells 683 Homes Worth over Rs 1,000 Cr in Hyderabad Project
Gaurav Pandey, MD & CEO of Godrej Properties, stated that this expansion allows the business to build a landmark community that represents its goal for sustainable, integrated living.
Godrej Properties is a top real estate developer in the country.
