In the recent news, Godrej Properties aims to build a 33-acre project near Bannerghatta Road, Bengaluru. Realty firm Godrej Properties eyes to collect revenue of over Rs.2000 crores from this upcoming residential project in the coming years. The project is strategically located in the residential micro-market of Bannerghatta Road in South Bengaluru.
The new project will have a developable potential of 3.4 million square feet of saleable area. The agreement is for an outright purchase with a 5% area share to the landowners.
The MD & CEO of Godrej Properties, Mohit Malhotra highlighted the importance of Bannerghatta Road as a significant location within South Bengaluru and termed it an important micro-market. Also, he highlighted the residential locations of the project and the important connectivity to Bannerghatta Road and the IT/ITES belt in the Electronic City.
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In the past interview with PTI, Godrej’s Executive Chairman said that the company is planning to invest around Rs.7500 crore over the next year and a half in the development and acquisition of real estate projects.
Godrej Properties is India’s top listed realty firm in terms of sales bookings, acquiring new projects, and also through a joint venture with the landowners.
