July 1, 2024: Godrej Properties Limited (GPL) has acquired 7 acre land in Thanisandra, North Bengaluru on an outright basis, the company said in an official statement.
The development on this land will comprise high-end residential project featuring premium residential apartments of various configurations. The proposed project is estimated to have a developable potential of 9 lakh square foot (sqft) with an estimated revenue potential of Rs 1,200 crore.
Situated in a high-potential area along Thanisandra Main Road, the land connects northwards to the Kempegowda International Airport, National Highway- 44 (NH44) in the west, and Outer Ring Road in the south.
Gaurav Pandey, MD & CEO, Godrej Properties, said, “Availability of land parcels and infrastructure development has turned Bengaluru into a mature real estate market with increased demand for residential development. North Bengaluru is an important market for us, and we are happy to add this land parcel to our portfolio. This will further strengthen our presence in Bengaluru and complement our strategy of deepening our presence in key micro markets across India’s leading cities”.
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