New Delhi: Real estate 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 reported direct acquisition of around 7 acres of land in Thanisandra, north Bengaluru.
The development on this land will comprise a high-end residential project with premium residential apartments of various configurations.
The proposed project is estimated to have a development potential of around 9 lakh sq ft with a revenue potential of around Rs 1,200 crore, the company said.
Gaurav Pandey, managing director and chief executive officer of Godrej Properties, said availability of land plots and infrastructure development has made Bengaluru a mature real estate market with increasing 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 Bengaluru and complement our strategy of deepening our presence in key micro-markets in major cities of India ", Pandey said.
In a separate filing, Godrej Properties said it will develop an 11-acre land parcel in Hinjewadi, Pune.
Development on this land will primarily comprise group housing and retail.
The project will have a development potential of around 2.2 million sq ft with an estimated revenue of around Rs 1,800 crore.
Pandey said, "Hinjewadi is an important micro market for us in Pune and we are happy to add this land parcel to our portfolio. This further enhances our presence in Pune."
Godrej Properties is one of the leading real estate developers in the country. It became the largest listed real estate developer in terms of sales bookings during fiscal year 2023-24.
In a regulatory filing, the company reported direct acquisition of around 7 acres of land in Thanisandra, north Bengaluru.
The development on this land will comprise a high-end residential project with premium residential apartments of various configurations.
The proposed project is estimated to have a development potential of around 9 lakh sq ft with a revenue potential of around Rs 1,200 crore, the company said.
Gaurav Pandey, managing director and chief executive officer of Godrej Properties, said availability of land plots and infrastructure development has made Bengaluru a mature real estate market with increasing 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 Bengaluru and complement our strategy of deepening our presence in key micro-markets in major cities of India ", Pandey said.
In a separate filing, Godrej Properties said it will develop an 11-acre land parcel in Hinjewadi, Pune.
Development on this land will primarily comprise group housing and retail.
The project will have a development potential of around 2.2 million sq ft with an estimated revenue of around Rs 1,800 crore.
Pandey said, "Hinjewadi is an important micro market for us in Pune and we are happy to add this land parcel to our portfolio. This further enhances our presence in Pune."
Godrej Properties is one of the leading real estate developers in the country. It became the largest listed real estate developer in terms of sales bookings during fiscal year 2023-24.
