March 4, 2024: Real estate developer Godrej Properties today announced that it has entered into definitive agreements to develop a township project in North Bangalore under a profit-sharing model. Spread across approximately 62 acre, the project will offer around 5.6 million square foot (msf) of saleable area comprising primarily residential apartments of various configurations. The estimated booking value from the project is expected to be Rs 5,000 crore.
This land parcel is strategically located in one of Bangalore’s prime locations, offering good connectivity to the Kempegowda International Airport, upcoming metro station, multiple upcoming residential and commercial developments, Special Economic Zone, and social infrastructure. The location also offers connectivity to the 8-lane highway connecting to the Central Business District and other key parts of Bangalore through Outer Ring Road – Hebbal.
While an agreement for sale for land including this 62 acre was entered into by Godrej Properties in 2014, the development wasn’t able to commence at the time. Over the past few months, the 62 acre development opportunity has crystallised, and the developer now expects to launch the first phase of development on this land in the upcoming financial year.
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