Godrej Prop buys 4-acre land in Bengaluru

Mumbai, January 2, 2024 : Godrej Properties Ltd., on Tuesday announced buying of 4-acre land parcel on an outright basis. The land is located in Yeshwanthpur abutting the National Highway – 75, in Bengaluru.

A press release issued by the company says that, this project is estimated to have a developable potential of approximately 0.7 million square feet of saleable area comprising primarily of premium residential apartments of various configurations with an estimated revenue potential of Rs 1,000* Crore with scope to increase to Rs 1,250* Crore basis additional 1-acre land acquisition, making it overall a ~ 5-acre parcel.

Gaurav Pandey, MD & CEO, Godrej Properties said, “Yeshwanthpur is an important micro market for us, and we are happy to add this land parcel to our portfolio. This will further strengthen our presence in Bengaluru and complement our strategy of deepening our presence in key micro markets across India’s leading cities.”

* On the basis of the current business assumptions.