Godrej Properties Ramps Up Expansion in Bengaluru

Godrej Properties Ltd., a Mumbai realty developer, is back in news after it announced the purchase of a 48-acre land block in Doddaballapur, North Bengaluru. The company revealed in an exchange filing that the newly purchased land is strategically located close to the Satellite Town Ring Road (STRR), a prominent connectivity route for the area.

As per Godrej Properties, development on the land will mostly include plotted units with a development potential of around 1.1 million square feet. Doddaballapur is gaining momentum as a strategic micro-market because of its locational advantage in proximity to Kempegowda International Airport and increased infrastructure investments. 

Key Highlights:

• Godrej acquires 48 acres in North Bengaluru for plotted development near STRR
• Follows recent 50-acre land deal in Raipur for premium residential project
• Continues aggressive expansion after Rs.2,000 plus crore sales in Devanahalli

This is another strategic land pickup by the company. This week, Godrej Properties said that it has bought a 50-acre residential land tract in Raipur. The Raipur asset, which is near the city railway station, Swami Vivekananda Airport, and proposed Raipur–Hyderabad and Raipur–Visakhapatnam expressways, will be developed as a premium plotted residential complex with an estimated saleable area of 9.5 lakh square feet.

Also Read: Godrej Properties Enters Raipur with 50-Acre Residential Plot

The developer last month logged robust sales of over Rs.2,000 crore with the launch of the inaugural phase of its Barca Godrej MSR City project in Devanahalli, Bengaluru, underscoring plotted development demand in prime metro suburbs.

Further bolstering its expansionist strategy, Godrej Properties has also recently picked up 16 acres in Upper Kharadi, Pune, a neighborhood close to large IT parks. That development will yield revenue of approximately Rs.3,100 crore.