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Godrej Properties purchases a 16-acres land parcel in Bengaluru’s Sarjapur

The project is estimated to have a developable potential of approximately 1.5 million square feet saleable area comprising primarily of residential apartments of various configurations.

November 26, 2021 4:10 IST | India Infoline News Service
Godrej Properties on Friday announced that it has purchased land measuring approximately 16 acres at a strategically located and fastest developing micro-market of Sarjapur, (Bengaluru) to develop a mid-income project.

The project is estimated to have a developable potential of approximately 1.5 million square feet saleable area comprising primarily of residential apartments of various configurations.

Mohit Malhotra, MD & CEO, Godrej Properties, said, “Infrastructure development in Bengaluru has increased demand for housing, especially from the mid and upper-mid income group. Sarjapur is an important micro-market for us and we are happy to add this land parcel to our portfolio. This will further expand our presence in Bengaluru and complement our strategy of deepening our presence in key micro markets across India's leading cities.”

Sarjapur is one of the most preferred residential locations in Bengaluru and also has excellent connectivity to the IT/ITES belt at Bellandur on Outer Ring Road and several key hubs of the city. The site is strategically located close to the Sarjapur main road and offers an extremely well-developed social and civic infrastructure with multiple schools, hospitals, retail, residential, and commercial spaces nearby.

On Sensex, Godrej Properties finished at Rs2098 per piece down by Rs141.85 or 6.33%. 

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PRESTIGE (NSE)

The average score for Prestige Estates Projects Limited stands at 4 against 6, three months back.

Prestige Estates Projects Limited is engaged in the business of real estate development. The Company’s principal products/services include Development and construction

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