Godrej Properties Buys 20-Acre Land Near Whitefield

Godrej Properties has purchased a 20-acre piece of land adjacent to Whitefield in Bengaluru to build a residential facility with a potential revenue of about 1350 crore by a regulatory filing of March 18.

The site is strategically situated along the NH-648 highway, East Bengaluru, in one of the fast developing residential micro-markets due to its closeness to major IT centres. The project has an easy access to the Whitefieldbelt and ITPLbelt that connects East and South Bengaluru and the major arterial routes.

Key Highlights

• Godrej Properties acquires 20-acre land near Whitefield
• Rs 1,350 crore residential project planned in Bengaluru
• Strong connectivity and demand drive East Bengaluru growth

It has also good accessibility as it has a linkage with the Namma Metro Purple Line and some of the stations include Kadugodi and Hope farm that makes it easily reachable to the residents.

The company observed that, in the last nine years, residential demand in the micro-market has been steady and has been aided by strong social infrastructure as well as a sustained end-user interest in the mid and high-end segments of the housing market.

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Gaurav Pandey, managing director and CEO of Godrej Properties, explained that it will be a project based on providing the well-thought-out communities in accordance with the changing preferences of the homebuyers, the priority being on convenience, functionality, and liveability.

This is one of the acquisitions that Godrej Properties has been making as a part of its expansion agenda. In the recent past, the company acquired land in Coimbatore, Kolkata, and Gurugram with a combined revenue potential of more than 6000 crore, which strengthened its aggressive expansion in major real estate markets.