Godrej Properties, which is part of business conglomerate Godrej group, on Tuesday said it has bought about 15 acre land in Bengaluru to develop a housing project.
The company said that “it has entered into an outright transaction to purchase a well located land parcel in Sarjapur, Bengaluru”
Godrej Properties did not disclose the deal value as well as the name of the seller in the regulatory filing.
Spread across approximately 15 acres, this project will offer around 1.6 million square feet of potential saleable area comprising of residential apartments of various configurations.
Pirojsha Godrej, Executive Chairman, Godrej Properties said, “Bengaluru is a key market for us and this project addition fits well with our strategy of deepening our presence across the country’s leading real estate markets.”
The company said the site is strategically located and offers a well-developed social and civic infrastructure with multiple schools, hospitals, retail, residential and commercial spaces in close proximity.