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Godrej Properties acquires 48-acre land parcel in North Bengaluru for plotted development
Bengaluru real estate: Godrej Properties said it plans to develop over 1.1 million sq ft of plotted development
Mumbai-based listed real estate developer Godrej Properties Ltd (GPL) has acquired a 48-acre land parcel in Doddaballapur, North Bengaluru, the company said in a regulatory statement. The project is expected to have a development potential of 1.1 million sq ft and will primarily consist of plotted development.
The land is located near the Satellite Town Ring Road (STRR), an upcoming infrastructure corridor that is expected to improve connectivity and spur real estate activity in North Bengaluru. With close proximity to Kempegowda International Airport, key industrial hubs, and the Nandi Hills, Doddaballapur is fast emerging as a real estate hotspot.
“This investment reinforces our focus on expanding our presence in key growth corridors through well-planned residential communities,” said Gaurav Pandey, Managing Director and CEO of Godrej Properties. “We are pleased to announce the acquisition of this prime land parcel in Doddaballapur, a high-potential micro-market in North Bengaluru. Bengaluru continues to be a priority market for us, and we look forward to creating a development that offers long-term value to its residents.”
The acquisition further strengthens Godrej Properties’ presence in North Bengaluru, where it already has several ongoing and completed projects, the company said.
Also Read: Godrej Properties forays into Raipur, acquires around 50 acres of land for a plotted development project
Foray into Raipur
On July 16, the company announced its entry into Raipur with the acquisition of around 50 acres of land for a plotted development, with an estimated saleable area of approximately 9.5 lakh square feet.
The development in Raipur will primarily comprise premium plotted residential units. Strategically located near Old Dhamtari Road, a fast-growing real estate hub, the site offers good connectivity to Central Raipur, Raipur Railway Station, and Swami Vivekananda Airport, the company said in a regulatory filing.
Also Read: Godrej Properties acquires 14-acre land in Bengaluru for ₹1,500-crore housing project
In June, Godrej Properties also announced plans to develop a premium residential project on a 14-acre land parcel in Hoskote, East Bengaluru. The proposed development is expected to offer approximately 1.5 million square feet of saleable area with an estimated revenue potential of ₹1,500 crore.
