Godrej Properties Ltd. has purchased a 16 acre land parcel at Sarjapur, Bengaluru, to develop a mid-income project.
MUMBAI, Nov 26 (The CONNECT) - Godrej Properties Ltd. (GPL) today announced that it has purchased a 16 acre land parcel at a strategically located and fast developing micro-market of Sarjapur, Bengaluru, to develop a mid-income project.
The project is estimated to have a developable potential of approximately 1.5 million square feet of saleable area comprising primarily of residential apartments of various configurations.
Sarjapur is one of the most preferred residential locations in Bengaluru and also has excellent connectivity to the IT/ITES belt at Bellandur on Outer Ring Road and several key hubs of the city. The site is strategically located close to the Sarjapur main road and offers an extremely well-developed social and civic infrastructure with multiple schools, hospitals, retail, residential, and commercial spaces in close proximity.
Mohit Malhotra, MD & CEO, Godrej Properties, said, “Infrastructure development in Bengaluru has increased demand for housing, especially from the mid and upper-mid income group. Sarjapur is an important micro market for us and we are happy to add this land parcel to our portfolio. This will further expand our presence in Bengaluru and complements our strategy of deepening our presence in key micro markets across India's leading cities.”