Godrej Properties buys 18-acre land in Bengaluru to build housing project

 

Realty firm Godrej Properties Ltd has bought an 18-acre land parcel in Bengaluru to develop a housing project, as part of its expansion plan.

In a regulatory filing, the company informed that "it has entered into an outright transaction to purchase a well located land parcel in Whitefield, Bangalore."

The company did not share the total value of the land deal.

Spread across approximately 18 acres, this project will offer 0.22 million square meters (2.4 million square feet) of saleable area comprising primarily residential apartments, it added.

"Bangalore is a key market for us and this project fits well with our strategy of deepening our presence across the country's leading real estate markets," Pirojsha Godrej, Executive Chairman, Godrej Propertiessaid.

Godrej Properties is aggressively adding more projects for development either through outright purchase of land or forming a joint venture with land owners.

Mumbai, Pune, Bengaluru and Delhi-NCR are key markets for the company.

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