Godrej Properties adds another acre in Bengaluru expansion

18 Jan 2024 CW Team

Godrej Properties announced the acquisition of an additional land parcel measuring around one acre in Yeshwanthpur, Bengaluru, through outright purchase. The land was revealed to have a developable potential of approximately 1.40 lakh sq ft saleable area. The company disclosed its intention to develop high-end residential apartments on this acquired land.

In a recent development, the company had previously procured approximately four acres of land in Yeshwanthpur through an outright purchase. The projected developable potential of this land is estimated to be around 0.7 million sq ft of saleable area, primarily consisting of premium residential apartments.

The project is anticipated to generate an estimated revenue potential of Rs 10 billion. Furthermore, there is a possibility for this revenue to increase to Rs 12.50 billion, considering the additional acquisition of one acre of land. This would result in the overall land parcel size being around five acres, as per the company's statement.

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