JLL India facilitates JV between Godrej Properties and Royale Builders in Bengaluru

To develop 13-acre land parcel in Devanahalli, North Bengaluru for housing project   JLL India has structured a marquee transaction between Royale Builders & Developers, one of the largest land aggregators in Bengaluru, and leading real estate developers Godrej Properties.   The two developers have joined forces to develop a 13-acre land parcel on Bellary Main Road (NH-7), close to Bangalore International Airport in North Bengaluru. They plan to develop a modern residential project of approximately 1.34 million sq ft (125,000 sq m) with excellent connectivity to the city’s key commercial and industrial catchment areas of Devanahalli, Hebbal and Yashvantpur.   Ramesh Nair, CEO & Country Head, JLL India, says, “North Bengaluru is one of the fastest-growing corridors in the city. Excellent connectivity to the airport and ready-to-move-in office spaces are the key drivers of demand in this market, which will see the development of about 10-15 million sq ft of office space over the next five to seven years. This will bring with it an escalating demand for homes in this market. A development of this scale, backed by the stakeholders’ strong reputation, will be a boon to buyers on the lookout for an elevate lifestyle with best-in-class social and physical infrastructure.”   MM Bhatia, Chairman, Royale Builders & Developers, says, “This collaboration is special to us considering the incredible Godrej brand, and comes close on the heels of our earlier partnership with Prestige Group. An expansive residential project of this nature will create tremendous value for end-users and investors, not least of all because the Bellary Road micro-market is one of the fastest-growing real estate precincts of Bangalore.”