Godrej Properties buys 48-acre land parcel in Bengaluru, to sell housing plots
Godrej Properties
Ltd has acquired a 48-acre land parcel in Bengaluru and will sell
housing plots
in this upcoming project.
In a regulatory filing on Friday,
Godrej Properties
said it has acquired a 48-acre land parcel through outright purchase in Doddaballapur, North Bengaluru.
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"The development on this land will primarily comprise plotted units with a development potential of 1.1 million square feet," the company said.
The company did not provide the land cost and also
revenue
potential of this new project.
On July 16, Godrej Properties announced the
acquisition
of a 50-acre land parcel in Raipur for developing housing plots. This land will have an estimated saleable area of around 9.5 lakh square feet.
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On June 30, the company said it has acquired a 43-acre land parcel in Panipat, Haryana and expects to earn revenues of more than Rs 1,250 crore through the sale of residential plots.
Godrej Properties is one of the leading
real estate developers
in the country.
The company is developing group housing projects mainly in Delhi-NCR, Mumbai Metropolitan Region, Bengaluru, Pune and Hyderabad.
However, the company is buying land in Tier-II cities of various states to develop residential plots.
During the 2024-25 fiscal, Godrej Properties bought as many as 14 land parcels across major cities to build housing projects with revenue potential of about Rs 26,500 crore.
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