January 2, 2024: Real estate developer Godrej Properties today announced that it has purchased a 4-acre land parcel on an outright basis. The land is located in Yeshwanthpur abutting the National Highway-75 (NH75), one of the prime locations in Bangalore.
This project is estimated to have a developable potential of approximately 0.7 million square foot (msf) of saleable area comprising primarily of premium residential apartments of various configurations. It has an estimated revenue potential of Rs 1,000 crore with scope to increase to Rs 1,250 crore basis additional 1-acre land acquisition, making it overall a 5-acre parcel.
The area offers well-developed commercial and social infrastructure and is in proximity to Goraguntepalya and Peenya Metro Stations providing access to the Central Business District (CBD) and other parts of Bangalore. The location also provides connectivity to the Kempegowda International Airport and other key areas of Bengaluru through Outer Ring Road (ORR)– Hebbal.
Gaurav Pandey, MD and CEO, Godrej Properties, said, “Yeshwanthpur is an important micro market for us, and we are happy to add this land parcel to our portfolio. This will further strengthen our presence in Bangalore and complement our strategy of deepening our presence in key micro markets across India’s leading cities.”
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Dhwani is a content management expert with over five years of professional experience. She has authored articles spanning diverse domains, including real estate, finance, business, health, taxation, education and more. Holding a Bachelor’s degree in Journalism and Mass Communication, Dhwani’s interests encompass reading and travelling. She is dedicated to staying updated on the latest real estate advancements in India.
Email: dhwani.meharchandani@housing.com
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