Bengaluru: Godrej Properties Ltd on Friday stated it has purchased a 16-acre land parcel in suburban Bengaluru’s Sarjapur Street space to develop a mid-income residential mission. The developer didn’t disclose the worth of the land buy.
The mission is estimated to have about 1.5 million sq ft of potential saleable space comprising primarily of residential flats of varied sizes.
“Infrastructure improvement in Bengaluru has elevated demand for housing, particularly from the mid and upper-mid earnings group. Sarjapur is a vital micro marketplace for us and we’re pleased so as to add this land parcel to our portfolio. This can additional develop our presence in Bengaluru and enhances our technique of deepening our presence in key micro markets throughout India’s main cities,” stated Mohit Malhotra, managing director and CEO, Godrej Properties.
In December 2020, Godrej Properties had entered into an settlement to purchase an 18-acre land parcel in Bengaluru’s Whitefield locality on an outright foundation for an undisclosed quantity.
It had additionally purchased a 15-acre land parcel within the Sarjapur space in mid-2020 for a housing mission.
Supply: Live Mint