Godrej Properties To Develop 62 Acres Township In North Bengaluru
Godrej Properties Ltd. (GPL) one of India’s leading real estate developers, announced that it has entered into definitive agreements to develop a large township project in North Bengaluru under a profit-sharing model. Spread across 62 acres, the land is located in a prime area of North Bengaluru. The project will offer 5.6 million square feet of saleable area comprising primarily premium residential apartments of various configurations. The project will cater to the aspirations of customers who are looking for a high-quality living experience with modern amenities and design with outstanding connectivity. This land parcel is strategically located in one of the most sought-after locations in Bengaluru offering excellent 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 Bengaluru through Outer Ring Road – Hebbal. While an agreement for sale for land including these 62 acres was entered into by GPL in 2014, the development wasn’t able to commence at the time. Over the past few months, the 62 acres development opportunity has crystallized, and GPL now expects to launch the first phase of development on this land in the upcoming financial year. Gaurav Pandey, MD & CEO, Godrej Properties said, “We are excited with the opportunity to develop a large-scale project in a strategic location in Bengaluru. We will aim to build an outstanding residential community that creates long-term value for its residents
Tags : Godrej Properties Ltd. profit-sharing model land parcel crystallized GPL Gaurav Pandey